As an experienced crypto investor with a penchant for NFTs and a knack for spotting promising projects, I must admit that ApeCoin has been a rollercoaster ride. The NFT crash a few years back left many of us skeptical about its future prospects. However, the recent announcement by ApeCoin’s team has certainly turned the tide.
After the significant downturn in the NFT market a few years ago, I found myself focusing my attention away from ApeCoin as it seemed to have vanished from the radar of many cryptocurrency enthusiasts.
Yet, just a short while back, the protocol declared an impressive announcement which sparked a significant surge for its native token, causing its value to break through the prestigious $1 mark.
$APE || The start of NFT season!
With $APE surging, NFT season is about to kick off.
Keep an eye on NFTs, billions will pour in.
Similar to $ALTS, #NFTs will bless patient peeps with generational wealth! @apecoin
— Crypto Catalysts (@Crypt0Catalysts) October 20, 2024
ApeCoin’s Announcement
The team’s statement under scrutiny emphasized the commencement of the project’s bridge, which operates in a manner analogous to other cryptocurrency bridges. It enables users to link their digital wallets and exchange specific assets, with ApeChain, Ethereum, and Arbitrum being the current networks supported by the bridge at this moment.
Following its launch, the novel protocol function enables investors to generate income from various altcoins, such as ApeCoin (APE), Ethereum (ETH), and certain stablecoins, by accruing native returns.
Additionally, the team has pledged to introduce a primary user reward system, with expectations for its debut by the close of Sunday.
Bridges are live.
Swing by ApeChain right away to kick off your earnings journey with native returns on APE, ETH, and a variety of stablecoins using your tokens!
On the newly revamped ApeChain site, you’ll discover our main bridge, as well as numerous partners and the apps currently accessible through ApeChain.
— ApeCoin (@apecoin) October 19, 2024
APE’s Price Surge
News of the bridge launch generated significant excitement within the cryptocurrency community on platform X, which could be a reason for the recent remarkable surge in the value of the native token.
For several weeks, APE had been hovering around $0.75, but it soared by over 66% following the news about X. It regained the $1 mark and has continued climbing to a four-month high of $1.25 at present.
The market value of APE (ApeCoin) has significantly increased, reaching approximately $900 million, thus enabling it to re-enter the list of the 100 largest cryptocurrencies by market cap.
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2024-10-20 08:46