ApeChain, a new Ethereum layer-2 network launched by the ApeCoin DAO, debuted at ApeFest Lisbon, resulting in ApeCoin's price more than doubling from approximately $0.75 to a peak of $1.74. As of the latest data, it's trading around $1.48, marking a 96% increase over the week, with a market cap exceeding $1 billion. The platform features multiple applications, including a meme coin launchpad and a leverage trading simulator. Yuga Labs aims to enhance user experiences and provide accessible tools for creating interactive content. Notable games like 'Top Trader', a trading simulation where players can win real crypto prizes, and a clone of Pump.fun, are already available on the network. Additionally, a $70 million fund, dubbed 'The Banana Bill', has been established to support developing projects on ApeChain, alongside initiatives to reward users with a points-based system.

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