ApeCoin (APE), the Bored Ape Yacht Club-affiliated ERC-20 cryptocurrency used for governance and transactions in the ApeCoin ecosystem, has doubled in value over the weekend, topping $1.5 for the first time since April, according to CoinDesk data. The rally comes as the ApeCoin team, led by Yuga Labs, the company behind BAYC, debuted the highly anticipated blockchain network ApeChain Sunday. The new offering, a Layer 3 network developed on Arbitrum One, is fully compatible with the APE token. The ApeChain bridges also went live on Sunday, allowing users to transfer their tokens to ApeChain and automatically earn a staking yield on APE, ETH and stablecoins.
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