Ethereum Whales Purchase APE Tokens Worth Over $6 Million
The APE cryptocurrency project has emerged as the most acquired digital currency in the previous 24 hours by the biggest Ethereum wallet.
This week’s game-changer has been the unveiling of the APE crypto project. Interestingly, the APE currency was released into the public markets last Thursday after an airdrop to BAYC NFT holders.
At the moment, news reports indicate that mainstream Ethereum users are eager to invest large sums in the APE token, and their actions confirm this.
WhaleStates, one of the world’s premier crypto whale analytics tools, has tweeted about the APE coin’s newest developments. According to the article, the Ape currency has climbed up the leaderboard of the top ten crypto tokens acquired in the last 24 hours by over 1,000 of the world’s biggest ETH whale traders.
The APE currency is now ranked #4 on the list of the most bought tokens worldwide, behind only the USD Coin (USDC). Additionally, it is the most frequently purchased BUSD token, with an average purchase price of $40,854 during the last 24 hours.
Notably, the first ETH address acquired precisely 300,000 APE coins (now valued at $3.3 million). This transaction took place on March 18th.
The deal was then valued at more than $4.2 million. As a result, the whale trader is down 7.88 percent from its All-Time High of $17.75 on Friday 18th March.
How Is The APE Coin Defined?
ApeCoin is a utility and governance token based on Ethereum (ERC-20) that is used inside the APE network. It enables decentralised transactions inside the ecosystem and equips the whole community to innovate at the forefront of web 3.0 development. ApeCoin’s fixed supply of 1,000,000,000 tokens is unchangeable, yet there are presently only 277,000,000 tokens in circulation.
ApeDAO, the project’s decentralised organisation, used the APE token for gaming, culture, and community development in order to accelerate the company’s Web 3.0 advancements.
ApeCoin is already listed on a number of top cryptocurrency exchanges and analytics sites. Gemini, FTX, Coinbase, Binance, Global Coin, eToro, Kracken, and Voyager are among them.
What Is The Nature Of The Whales?
Surprisingly, the crypto whale that made this purchase is the tenth biggest in the Ethereum ecosystem. His portfolio, on the other hand, is roughly 50% FTT coin, the native token of the FTX exchange.
Apart from that first buy, the 20th largest whale on the Ethereum blockchain completed a second transaction. That same day, this second whale acquired an identical quantity of APE tokens (Thursday, 17th March).
ApeCoin provided an update on the APE currency on Sunday, emphasising the relationship with Time Magazine. Thus, the magazine behemoth will begin accepting APE coins for online subscriptions.