# ApeCoin Surges as ApeChain Launches and Enables Staking

*Author: David Christopher*
*Published: Oct 21, 2024*
*Source: https://www.bankless.com/apecoin-pump-apechain*

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ApeChain, a Layer 3 from Apecoin built on Arbitrum One, launched Sunday, adding NFT minting, trading, and staking support.

## What's the scoop?
- **Token Value Increase:** ApeCoin's price doubled over the weekend, crossing $1.5 for the first time since April, as APE can now be staked for rewards.
- **LayerZero Integration:** ApeChain integrated with LayerZero for cross-chain transfers.

## Bankless Take: 
The launch of ApeChain marks a significant milestone for community-specific chains. While in many cases, these chains may just be [attempts to maintain relevance](https://www.bankless.com/are-layer-3s-the-future) or increase token utility, they do offer a custom environment to dedicate to particular user cases for the community, whether that be NFTs, gaming, or [anime](https://x.com/Azuki/status/1772973156254253079). Realistically, though, they currently just offer a new environment for speculation and, looking at [DEGEN chain’s rise and fall](https://defillama.com/chain/Degen), will need to develop unique feature sets — beyond staking rewards — to stay relevant.

> Over the last few months we’ve been highlighting integrations from industry leading protocols ON APECHAIN, but there’s more…Our commitment to bringing distribution opportunities to the community means worldwide visibility for developers and creators in the APE ecosystem.— ApeCoin (@apecoin) [October 19, 2024](https://twitter.com/apecoin/status/1847731599141482703?ref_src=twsrc%5Etfw)