ApeCoin (APE), an ERC-20 token for the APE ecosystem, surged 40% due to the ApeChain launch, a network built on Arbitrum technology.

ApeCoin's Sudden Rise

According to CoinMarketCap, APE's market cap reached $1.1 billion, ranking it as the 65th largest cryptocurrency. Trading volume hit $2.2 billion, up 366.56% in 24 hours. The token also increased by 94.99% over the past week and 84.75% over the last 30 days.

ApeChain: A New Level for APE

ApeChain serves as the core of the APE ecosystem with APE as its native digital asset. It utilizes the LayerZero OFT standard for seamless cross-chain transfers, enhancing utility across blockchains with scalable transactions.

Integration with LayerZero

LayerZero announced in an X post about their integration on the ApeChain mainnet as the canonical interoperability provider. ApeChain's development on Arbitrum promises to broaden its capabilities.

The ApeChain launch has led to a significant rise in ApeCoin's price, drawing attention to the APE ecosystem and its potential integration with innovative blockchain solutions like LayerZero.