Hello and welcome to Markets Daily hosted by me, Jen Sanassi. On this show, we take a look at what's

going on in the crypto markets and try to make sense of it for you. So whether you're just watching

what's happening in the markets where you're actively investing, I hope that you can get

some alpha out of this show. Now, on today's episode, we are getting into the recent ape

coin price action and the debut of

ape chain. Now, this has been a turnaround of events. Apecoin surged 100% recently, hitting

the highest price that we've seen since April, reedwriting interest in both the coin and the broader

Yugo Labs ecosystem. Now, Yuga Labs was all the rage in the previous

NFT hype cycle, celebrities and the crypto wealthy scooping up NFTs left right and center.

Since then, though, Yuga Labs has promised a Metaverse platform in other side and more

developments in the ecosystem. So what sent the coin soaring earlier this

week? Well, Yucal Labs, the company behind the board ape yacht club NFTs launched ape chain.

The chain is layer three developed on Arbitrum 1, which is fully compatible with the ape token.

According to analysts, it also facilitates minting NFTs, trading, and decentralized applications.

Ape chain bridges also went live recently, letting users transfer their tokens to the chain

to automatically earn a stake in yield on Ape, Eth, and Stable Coins.

Now, in a report to clients, 10x founder Marcus Tielin, who is a friend of the show, said

ape coin has introduced an automatic yield mode allowing users to passively earn returns by staking

their ape tokens.

The new feature reinvests rewards automatically maximizing yield over time.

Hey everyone, did you know 52 million Americans own cryptocurrencies?

That's not just a number.

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