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ApeCoin Soars 13%, Outpacing the Broader Market on 1 Key Catalyst

TheMotleyFool

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Today's impressive surge in meme token ApeCoin (CRYPTO: APE) has resulted in fresh September highs for this cryptocurrency. As of 2:30 p.m. ET on Friday, ApeCoin had surged 13.4% over the past 24 hours, led by an impressive move during Asian trading hours.

Much of today's move in ApeCoin can be tied to macro-level moves among all risk assets. Risk-on sentiment appears to be creeping into investors' decision making, as the market brushes off what's expected to be more hawkish moves from the Federal Reserve in weeks to come.

Despite the market taking a longer-term perspective on monetary policy, there are some token-specific catalysts driving ApeCoin higher today.

Source Fool.com

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