Speedy and ApeCoin See Prices Pump by Over 100% in the Last 24 Hours

Meme coins Speedy (SPEEDY) — a meme coin launched on the Fantom blockchain by The GOAT Foundation — was among the top gainers on CoinGecko as of Sunday afternoon.

Speedy (SPEEDY) and ApeCoin (APE) have both enjoyed a recent surge in prices, with SPEEDY leading the way with an increase of over 150%.

According to CoinGecko, Speedy was trading at $0.027 at the time of writing, having seen a high of $0.033 and a low of $0.0007 over the last seven days and 90 days, respectively.

Chart showing the price of Speedy (SPEEDY) over the last seven days. Source: CoinGecko

As for ApeCoin, the token saw a rise of 105.0% in the last 24 hours, and was trading at $1.57 at the time of writing.

Over the last seven days, APE enjoyed a high of $1.66 and a low of $0.6981, while over the last 90 days, the token enjoyed a high of $2.1 and a low of $0.6656.

The primary reason for the bullish momentum appears to be the launch of ApeChain, a new Layer-3 blockchain.

Announced by the ApeCoin X account, the launch will now allow users to begin moving their tokens to ApeChain and start earning native yield on APE, ETH, and stablecoins.

“Bridges are live. Bring your tokens to ApeChain now to start earning native yield on APE, ETH, and various stablecoins,” ApeCoin stated.

The lights are on. pic.twitter.com/0JV9ImmkDA

Among the key features of the newly launched ApeChain are the seven initial贿赂 that have been announced.

With the bridge now live, token holders can begin moving their tokens to ApeChain, Ethereum (ETH) and the Arbitrum (ARB) chain.

Their team announced that holding ApeCoin on ApeChain puts users' APE in automatic yield mode, allowing users to earn yields on APE, ETH, and other stablecoins.

Finally, the ApeCoin team also announced on X that memes on ApeChain are up by over 12,000%.

The APE coin has enjoyed a sustained period of recovery from its all-time low in August 2024. After having touched a low of $0.482 on Aug. 20, the coin has surged by over 215%.

The recent ApeChain launch has also pushed the price up above $1.5. However, it remains to be seen whether APE will be able to sustain the $1.50 level.

ApeCoin is the native cryptocurrency of the Bored Ape Yacht Club non-fungible token collection, which was launched in March 2022 by Yuga Labs.

It is governed by the ApeCoin DAO, which allows holders of the coin to vote on the direction of the ecosystem.