APE (ApeCoin) rose 17.77% in the last 24 hours.

Gate News Bot news, on October 24, according to CoinMarketCap data, APE (ApeCoin) is currently priced at 0.46 USD, having risen 17.77% in the last 24 hours, with a high of 0.46 USD and a low of 0.37 USD. The current market capitalization is approximately 346 million USD, an increase of 52.2 million USD compared to yesterday.

ApeCoin is a governance and utility token designed to guide a decentralized community in building at the forefront of Web3. The APE token is issued and managed by the Ape Foundation, aiming to incentivize and reward community participation.

Important news about APE recently:

1️⃣ Yuga Labs launches ApeChain, APE price surges Yuga Labs officially launched ApeChain on October 21, which is a blockchain network specifically designed for the ApeCoin ecosystem. With the debut of ApeChain, the APE price surged by 100% within 24 hours, indicating a positive market response to this new infrastructure.

2️⃣ Ecosystem expansion attracts investor attention The launch of ApeChain marks a significant expansion of the ApeCoin ecosystem. This initiative not only enhances the utility of APE but also provides new development space for future decentralized applications (DApps) and NFT projects, attracting more investors' attention.

3️⃣ Improved market sentiment drives APE rise With the successful launch of ApeChain, the confidence of the ApeCoin community has been significantly boosted. This positive market sentiment is reflected in the price performance of APE, driving a significant rise in the short term.

From a technical perspective, APE has broken through several key resistance levels and is currently in an upward trend. However, investors should remain cautious of potential pullbacks, as rapid rises are often accompanied by profit-taking.

This message does not constitute investment advice, and investors should be aware of market volatility risks.