Investing.com – ApeCoin (), the cryptocurrency tied to the popular Bored Ape Yacht Club (BAYC), had an impressive weekend, doubling in value and reaching $1.50 for the first time since April.
The price surge coincided with a big development from Yuga Labs, the company behind BAYC, as they launched their new blockchain network, ApeChain, on Sunday.
ApeChain, which was given the green light by ApeCoin’s DAO in January, is a Layer 3 network built on the Arbitrum One platform. The network is compatible with the APE token and has been designed to make it easier for users to mint NFTs, trade digital assets, and interact with decentralized applications.
The ApeCoin DAO isn’t fully decentralized and has specific roles within its structure to keep the governance running. As per the ApeCoin website, the Ape Foundation handles governance by taking care of everyday tasks like administration, bookkeeping, project management,…
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