Bored Ape NFTs Surge +300% In Daily NFT Sales After The ApeChain Network Launch

Updated: 22 October 2024

Disclosure

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Yuga Labs, the digital asset incubation studio, has launched its highly anticipated blockchain network, ApeChain, in partnership with the ApeCoin DAO. This bullish announcement has skyrocketed the trading sales volume of some of its affiliated digital assets, including the Bored Ape Yacht Club and Mutant Ape Yacht Club. In the past 24 hours, the Bored Ape and Mutant Ape NFT sales volume surged +300% shortly after the news broke out.

Source: CryptoSlam.io, NFT Trading Activity by Daily Sales Volume

Bored Ape NFTs Surge +300% In Daily Sales Volume

Data compiled by CoinMarketCap.com, the world’s most-referenced price-tracking website for crypto assets and non-fungible tokens in the rapidly growing crypto space, shows that the Bored Ape NFT market is buzzing with renewed energy. The launch of ApeChain is driving this significant market resurgence. In the past 24 hours, the Bored Ape Yacht Club NFTs have raised a trading sales volume of over 600 ETH, becoming the most-selling NFT collection.

Source:CoinMarketCap.com, NFT trading activity by sales volume

Launched in April 2021, the Bored Ape Yacht Club is a non-fungible token collection from the digital assets firm Yuga Labs, the same team behind the newly launched ApeChain network. The NFT collection features a limited edition of 10,000 ape profile pictures hosted on the Ethereum blockchain network. The Bored Ape Yacht Club NFT has rapidly grown to become one of the most popular NFT collections in the NFT market.

if you’re looking to build on ApeChain, feel free to reach out. Would love to see how we can help.

Games, NFTs, wild shit

Let’s make ApeChain the most insanely creator-focused chain pic.twitter.com/XrWVvhEYdd

— Garga.eth (Greg Solano) (@CryptoGarga) October 20, 2024

Mutant Ape Yacht Club, another non-fungible token collection from Yuga Labs, appears to have also reacted to the recent launch of the ApeChain network. In the past 24 hours, the Mutant Ape Yacht Club NFT collection has seen its trading sales volume pump up by 1000% to nearly $1 million shortly after the Apechain announcement. Its NFT floor price has climbed and stabilized above 2 ETH.

APECHAIN pic.twitter.com/C7JpI7IcxH

— beeple (@beeple) October 20, 2024

LayerZero Adds Support For The New ApeChain Network

The Yuga Labs team launched its ApeChain over the weekend during the ApeFest2024 annual NFT event in Lisbon, Portugal. This youngest blockchain network on-chain has received a warm reception among the crypto and related communities. The LayerZero has added support for ApeChain as its canonical interoperability provider. The new ApeChain, built on Arbitrum, powers the ApeCoin ecosystem with APE as its native gas token.

LayerZero is live on ApeChain mainnet as its canonical interoperability provider!

ApeChain, built on @Arbitrum, powers the ApeCoin ecosystem with APE as its native gas token. Integrated with LayerZero's OFT standard, APE enables seamless cross-chain transfers, enhancing utility… https://t.co/wlhh8PIkQn pic.twitter.com/vTm5NThjkZ

— LayerZero (@LayerZero_Core) October 20, 2024

Under the new integration, the new ApeChain anticipates leveraging LayerZero’s OFT standard to enable seamless cross-chain transfers, enhancing utility across multiple blockchain networks while ensuring scalable and efficient transactions. ApeChain will focus on ecosystem discovery, unique Web3 features, and optimizing the user experience for developers and users alike.