Ape chain. HYIP or NOT?
The recent rise of ApeCoin has caught the attention of investors and traders. The main driver of the APE price rally has been meme coins on ApeChain.
The ApeCoin project launched the ApeChain Layer 3 (L3) network based on Arbitrum One. A digital asset expert known as s4mmy.moca explained on X (formerly "Twitter") how to benefit from the hype around the new blockchain.
How to Participate in the ApeChain Ecosystem?
To start interacting with ApeChain, you need to:
- Acquire Ethereum (ETH) on the main network;
- Swap ETH for APE on any decentralized exchange (DEX);
- Transfer APE to ApeChain using a bridge;
- Add ApeChain support to your wallet.
Currently, most trading volume in the ApeChain ecosystem occurs on Camelot, a DEX based on Arbitrum. According to DEX Screener, the top meme coins by market cap are as follows:
- BORED — $15.2 million;
- CURTIS — $14.4 million;
- CIF — $2.1 million;
- GARY — $1.1 million.
Analysts from Lookonchain have already identified a trader who managed to make a 300x profit on ApeChain. Experts analyzed his transactions and found that he traded 18 meme coins, including CURTIS.
The percentage of profitable trades with meme coins for this trader is 50%. For most market participants, this figure is below 50%. Investing in and trading meme coins are extremely risky activities.
Anyone Can Launch a Meme Coin on ApeChain
ApeChain has also introduced an equivalent of pump.fun — Ape Express. This is a platform for generating meme coins. When the capitalization of the token you create reaches $144,000, it gets listed on Camelot.
Latest Meme Coins on Ape Express. Source: Ape Express
In the last 24 hours, 2,640 tokens were created on ApeChain. About 55 of them reached the "bonding curve," and seven achieved a market value of several million.
ApeChain is an L3 solution built on Arbitrum One. The network is designed to simplify minting non-fungible tokens (NFTs), trading, and accessing decentralized applications (dApps). Additionally, this Layer 3 blockchain will serve as the foundation for the Otherside metaverse, developed by the creators of Bored Ape Yacht Club (BAYC).
Links
See also:
- docs: docs.apechain.com
- review: l2beat.com/scaling/projects/apechain
- bridge: apechain.com/portal
- stats: apecointreasury.nodeblocks.io
- launchpad: docs.ape.express
P.S.
Let us recall that the ApeCoin airdrop took place in March 2022. In the fall of 2023, Yuga Labs announced staff reductions and a focus on its key area — the Otherside metaverse.
More information: docs.apechain.com.
