# ApeChain Launch

*ApeCoin Soars 100% as ApeChain Launches*

By [aundingoya.eth](https://paragraph.com/@aundingoya.eth) · 2024-10-21

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ApeCoin (APE) has skyrocketed to $1.5, doubling in value over the weekend, thanks to the launch of ApeChain, a new blockchain network from Yuga Labs. This much-anticipated platform introduces automatic yield for APE holders through staking, allowing users to passively earn returns.

The Layer 3 network, developed on Arbitrum One, enhances the ApeCoin ecosystem by supporting NFT minting, trading, and dApps. Staking APE tokens now automatically reinvests rewards, attracting investor interest, as noted by 10x Research's Markus Thielen.

Additionally, the launch of LayerZero on ApeChain facilitates seamless cross-chain transfers, boosting APE's utility across multiple blockchains. This combination of features has ignited excitement in the community, pushing APE to its highest price since April.

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*Originally published on [aundingoya.eth](https://paragraph.com/@aundingoya.eth/apechain-launch-1)*