Bored Ape Yacht Club, one of the favorite projects of 2022, continues to innovate. ApeCoin (APE), which the company launched this year, has gained 1000% in value days after its launch.
While ApeCoin has continued to attract attention since then, there has been a new development that will add value to ApeCoin. Layer 2 scaling platform Polygon now supports ApeCoin. ApeCoin can be used in more than 19,000 decentralized applications (dApps) and games in the Polygon ecosystem. He shared the news on Polygon's official Twitter page.
"#ApeCoin is now available for 19,000+ dApps and games on the #Polygon ecosystem!"
Recently, Yuga Labs, creators of the Bored Ape Yacht Club NFT collection, launched Otherdeeds NFTs. NFTs attracted a lot of attention, but with the sudden rise of Ethereum's gas fees, users came under a huge cost and paid transaction fees that went up to 5 Ethereums. In fact, some users who could not complete their transactions claim that they lost their ETH in the process.
However, Yuga Labs has promised to refund lost gas fees resulting from failed transactions. In addition, Yuga Labs stated that the transaction density from social media has turned off the lights of Ethereum for a while. The community reacted to these transaction fees. Amid the backlash, APE developers announced their Polygon partnership.
ApeCoin is trading at $14.64 at the time of writing, according to CoinGecko data. With a market cap of $4.2 billion, APE ranks 33rd among the most valuable assets in the crypto market.
Polygon (MATIC), on the other hand, is changing hands at $1.09 at the time of writing, according to CoinGecko data. Polygon (MATIC) trading volume in the last 24 hours is $472,297,366. Polygon (MATIC) price has increased by 3.0% in the last 24 hours. There is a 6.9 Billion MATIC coin supply in circulation, with a total supply of 10 Billion Polygons (MATIC).