The price of ApeCoin (APE) has risen significantly recently, with an increase of 80%. This phenomenon has attracted widespread attention in the market. The launch of ApeChain is one of the key factors driving this growth. ApeChain is a Layer 2 blockchain based on Ethereum, launched by Yuga Labs, aiming to provide a faster and more efficient transaction experience, directly serving the Bored Ape Yacht Club (BAYC) and the broader Web3 community.

Within 12 hours after ApeChain went online, the blockchain has processed more than 480,000 transactions, with a total transaction volume of more than $25 million. This data reflects its strong market appeal and activity. In addition, Yuga Labs also launched ApeChain’s cross-chain bridge Ape Portal, which enables users to easily implement cross-chain transactions and further improves the user experience.

Yuga Labs also launched Ape Express, a one-click currency issuance platform based on ApeCoin, which allows users to issue Meme coins in one minute, greatly simplifying the currency issuance process and lowering the threshold for currency issuance. This innovation further ignited the market's enthusiasm for Meme coins and brought more user participation and market popularity to ApeChain.

With the launch of these new features, Yuga Labs’ token and NFT projects have also received great attention from the market. According to the latest market data, the floor prices of Yuga Labs' NFT series have rebounded significantly in the past 24 hours, and market demand has increased. For example, BAYC's floor price increased by 13.52% within 24 hours, while other projects such as MAYC and BAKC also saw significant price increases.

Overall, the launch of ApeChain and the launch of related new functions not only enhance the application scenarios of ApeCoin, but also bring new vitality and market attention to the entire Yuga Labs ecosystem. These factors combined to drive a sharp increase in APE prices.