ApeCoin has recently upgraded its smart contract to integrate with Layer Zero's Omnichain Fungible Token (OFT) standard.

ApeCoin (APE), a linchpin asset in the Yuga Labs ecosystem, has seen its value soar by over 100% today. This surge is largely due to the recent integration of ApeCoin with LayerZero’s Omnichain Fungible Token (OFT) standard.

This integration enables APE to function simultaneously as a utility and governance token and as the native gas on its blockchain, ApeChain. Additionally, thanks to LayerZero, APE can now be transferred seamlessly across ApeChain, Ethereum, and Arbitrum.

Furthermore, ApeCoin has introduced a Native Yield mechanism, developed in collaboration with Decent.xyz, which automatically generates yields for ApeCoin holders without requiring any manual intervention.

These enhancements have spurred a positive market response, with ApeCoin’s trading volume surging by over 6,400% to reach $1.84 billion. This positive market development is also reflected in ApeCoin’s market cap, which has crossed the $1 billion mark, showcasing an increase of over 100% in 24 hours.

Moreover, the liquidity on ApeChain has been boosted by the introduction of bridges that facilitate the migration of APE, ETH, and various stablecoins between networks. This capability has enhanced the fluidity of asset movement, attracting both developers and investors to the ecosystem.

To illustrate, within the first 12 hours of ApeChain’s operation, over $25 million in volume was traded. This activity includes the creation of 148 liquidity pools and the execution of 62,700 transactions, indicating robust engagements.

In addition to these technological upgrades, ApeCoin has also announced a core user incentive program that will be launched soon. While the specifics of the program are yet to be disclosed, its upcoming implementation is expected to further bolster ApeCoin price.

Beyond its price performance, ApeCoin is also expanding its utility beyond transactional purposes. It will now play a role in governance within the ApeCoin DAO and will be usable for real-life purchases. This broader functionality aligns the token more closely with the needs and expectations of its user base.

At press time, ApeCoin price is $1.51, reflecting a substantial increase of 103.21% in the last 24 hours.

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