APES Token From Solana (SOL) Ecosystem Skyrockets by Over 50%, Aims for Binance and Bybit Listings

The APES token, a new gaming token on Solana, has increased over by 50%, capturing the interest of the crypto world.

A new gaming token on Solana, APES, has soared by over 50%, capturing the interest of the crypto world.

According to CoinGecko, the price of APES has surged to $0.032 from its previous low of $0.00005. The market capitalization has also climbed to $31.5 million, with more than 17,000 holders.

APES, which was recently listed on Raydium, has quickly risen to the top of CoinMarketCap and CoinGecko's popularity lists. The token's popularity has been fueled by new listings on tier-2 and tier-3 exchanges, such as BingX, MEXC, and OKX. However, APES's efforts to gain listings on major platforms, such as Bybit and Binance, are still ongoing.

APES combines aspects of gaming and memecoin. Users can earn tokens by performing simple tasks on a Telegram mini-app, which can then be converted into fiat currency. Unlike competitors such as Notcoin and Hamster Kombat, APES is powered by Solana (SOL), which was chosen for its speed, low transaction fees, and popularity among DEX networks.

Historically, new tokens experience significant initial gains followed by pullbacks. For instance, Notcoin saw a 2,000% increase post-listing before a major drop, and Hamster Kombat fell by over 80%.

Despite the recent rally, there are concerns about potential price pullbacks, which are common for new tokens. The APES community remains optimistic, pushing for further exchange listings, with current odds of 0.5% for Binance and 5% for Bybit.

The aggressive promotion of APES raises questions about the legality and ethical implications of such hype, especially in a market prone to volatility.