Back

Binance Integrates ApeCoin on ArbitrumOne for Deposits and Withdrawals

According to Binance’s official announcement, ApeCoin users can now transact via ArbitrumOne, benefiting from enhanced speed and reduced costs through Ethereum’s layer-2 technology.

ETH
APE

Summary

Binance has officially completed the integration of ApeCoin (APE) with the ArbitrumOne network, enabling deposits and withdrawals. The announcement confirms that users can now utilize ArbitrumOne’s layer-2 scaling solution, which is designed to improve Ethereum transaction efficiency and lower fees.

Terms & Concepts
  • ApeCoin (APE): A cryptocurrency token associated with the Bored Ape Yacht Club ecosystem, used for governance and utility within related projects.
  • ArbitrumOne network: A layer-2 scaling solution for Ethereum that uses rollups to increase transaction speed and reduce fees.
  • Layer-2 scaling solution: A secondary framework built atop a blockchain to enhance throughput and reduce transaction costs without compromising security.