Ethereum Whales Buy Over $6 Million in APE Tokens


The APE crypto project has become the most purchased digital currency by the largest Ethereum wallet in the past 24 hours.

The release of the APE crypto project was this week’s table shaker. Interestingly, last Thursday the APE coin was deployed in the public markets after being distributed as an airdrop to BAYC NFT holders.

Currently there is news that regular Ethereum users are easily interested in going big on the APE coin, and they have their actions to precede them.

Whale says about Ethereum

Whale States, one of the leading crypto whale analysis platforms worldwide, published a tweet about the latest updates to the APE coin. In the post, the analytics giant described the Ape coin as rising in the rankings of the top 10 crypto tokens purchased by more than 1,000 largest ETH whale traders in the past 24 hours.

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The APE coin is ranked #4 of the most purchased tokens worldwide, after USD Coin (USDC). Moreover, it is the leading BUSD token with an average purchase amount of $40,854 in the last 24 hours.

Notably, the first ETH address bought exactly 300,000 APE coins (sold at a current of $3.3 million). This trade took place on March 18.

ETH Price Recovers Above $3000 | Source: ETHUSD on TradingView.com

At the time, the transaction was valued at over $4.2 million. The whaler is thus down 7.88 since its All-Time-High price of $17.75 on Friday, March 18.

What is the APE coin?

ApeCoin is an Ethereum-based (ERC-20) utility and governance token used within the APE network. It facilitates decentralized transactions within the ecosystem and allows the entire community to evolve at the forefront of web 3.0. ApeCoin has an unchanging fixed supply of 1,000,000,000 tokens, but there are currently only 277,000,000 tokens in circulation.

ApeDAO, the project’s decentralized organization, has leveraged the APE coin for gaming, culture, and community to advance the development of the company’s Web 3.0 innovations.

ApeCoin has already been listed on several leading crypto exchanges and crypto analytics platforms. They include Gemini, FTX, Coinbase, Binance, Global Coin, eToro, Kracken, and Voyager.

Who are the whales?

Amazingly, the crypto whale that made this purchase is Ethereum’s 10th largest whale. However, its portfolio includes almost 50% FTT token, which is the native token of the FTX exchange.

In addition, aside from that first purchase, a second transaction took place by the 20th largest whale in the Ethereum blockchain. This second whale bought an equal number of APE tokens that day (Thurs 17 March).

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On Sunday, ApeCoin published more recent developments on the APE coin, highlighting its partnership with Time Magazine. For example, the magazine giant will use the APE coin to facilitate online subscriptions.

Featured image from Pixabay, chart from TradingView.com



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