What is ApeChain? Why is the APE Token Surging?
Over the past two days, the biggest market highlight has been the skyrocketing price of $APE, primarily driven by the official launch of ApeChain!
What is ApeChain?
ApeChain is a Layer 3 solution recently launched by Yuga Labs, built using Arbitrum Orbit technology. As the company behind Bored Ape Yacht Club (BAYC), this move marks Yuga Labs’ expansion into broader blockchain applications.
Key Features of ApeChain:
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High transaction processing capacity
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Low transaction fees
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Ethereum Virtual Machine (EVM) compatibility
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Uses $APE as gas fees
Simply put, ApeChain is a blockchain built specifically for Ape fans!
The Relationship Between ApeChain and the APE Token
APE is the native token of ApeChain, with a total supply of 1 billion tokens. It plays a crucial role in the ApeChain ecosystem:
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Serves as a governance token, allowing holders to participate in ApeCoin DAO decisions
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Used to pay transaction fees on ApeChain
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Can be utilized in various applications and services within the ApeChain ecosystem
Ape Express: The Fast Lane for Meme Tokens
Ape Express is one of the most important applications on ApeChain. It is a dedicated platform for the creation and trading of meme tokens.
The official description refers to it as the “on-chain pump.fun for ApeChain”, meaning users can launch their own meme tokens within seconds.
Key Features of Ape Express:
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Fast meme token creation
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A marketplace for meme token trading
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Support for liquidity pool creation and management
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Market data tracking, including token prices and trading volume
How to Get Started with ApeChain
Here are the detailed steps to start using ApeChain:
Step 1: Set Up a Wallet
Use OKX Web3 Wallet, which now supports the ApeChain network.
Step 2: Get APE Tokens
Purchase $APE on exchanges like OKX or Binance, then transfer it to your Ethereum network wallet.
Step 3: Bridge to ApeChain
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Visit the official bridge: http://apechain.com/portal
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Select the networks: Choose to transfer from Ethereum to ApeChain.
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Enter the amount: Input the amount of $APE you want to bridge and confirm the transaction.
Step 4: Use Ape Express
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Visit Ape Express: https://ape.express
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Browse available meme tokens: Click “EXPLORE” to check out the listed meme tokens.
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Check trending tokens: In the “degen” section, view meme tokens ranked by popularity.
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Buy a token:
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Select the token you want to purchase.
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Click “Buy”, enter the amount of $APE, and confirm the transaction.
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Adjust slippage if needed: If the transaction fails, try increasing the slippage tolerance for a successful trade.
ApeChain’s Initial Performance
According to data from the ApeChain Explorer, the network has shown impressive performance since its launch:
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Over 480,000 transactions completed within the first 12 hours.
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Total trading volume exceeding $25 million.
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$APE token surged by 83% within 24 hours.
These numbers indicate strong market interest and participation. Looks like the BAYC community is hyped!
Trending Meme Coins on ApeChain: CURTIS, BORED
Since the launch of ApeChain, several meme tokens have gained significant attention, including:
CURTIS (CURTIS-BAYC):
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Contract Address: 0xFC2744A6Db0f97c606Df786b97255DFf6F27E320
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Peak Market Cap: $28 million
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Trading Chart:
https://dexscreener.com/apechain/0xb064ea265e262ea2d21645ff5aa127c3088955ee
BORED (BORED-OG):
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Contract Address: 0x493a7A762Db6bb2A1CdC526697d37Ff9d32b0473
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Peak Market Cap: $23 million
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Trading Chart:
https://dexscreener.com/apechain/0xb8610ec7fbb5744778798749e7683abe78298573
Crypto Is Fun (CIF):
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Contract Address: 0x70bee7ca89300e9450ecb6c083387132995152dd
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Peak Market Cap: $8.5 million
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Trading Chart:
https://dexscreener.com/apechain/0x19562678fae5f957afc8955ef1e5f084ee082d55
Additionally, users can directly check trading charts on data platforms or trade on DEXs:
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Dexscreener: https://dexscreener.com/apechain
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CamelotDEX: https://app.camelot.exchange
Conclusion
Yuga Labs has not only launched ApeChain and Ape Express but has also formed a strategic partnership with Wire Network, aiming to explore the emerging field of AI agent economies in the future.
As ApeChain and Ape Express continue to develop, we may witness:
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More innovative DeFi applications built on ApeChain
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Staking and yield farming functionalities utilizing APE tokens
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Deeper integration with other Yuga Labs NFT projects
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More GameFi-focused applications emerging on the network
However, participants should remain cautious, as meme token trading carries high risks—always trade responsibly.
