Ethereum Whales Purchase Over $6 Million Worth Of APE Tokens

Anthoniyan B

Last Updated: March 22, 2022 8:28 am

2 mins read

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The APE crypto project has arisen as the most purchased digital currency by the largest Ethereum wallet in the last 24 hours.

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

Currently, news has it that mainstream Ethereum users are readily interested in going big on the APE coin, and they have their actions to precede them.

WhaleStates About Ethereum

WhaleStates, one of the leading crypto whale analytics platforms globally, published a tweet about the latest updates on the APE coin. From the post, the analytics giant described the Ape coin as climbing up the leaderboard of the top 10 purchased crypto tokens by over 1,000 largest ETH whale traders within the past 24 hours.

The APE coin sits as the #4 leaderboard of most purchased tokens globally, following USD Coin (USDC). Additionally, it is the leading BUSD token with an Average Purchase Amount of $40,854 in the past 24 hours.

Notably, the first ETH address purchased exactly 300,000 APE coins (sold at $3.3 million current). This trade occurred on March 18^th.

Ethereum Whales Purchase Over $6 Million Worth Of APE Tokens — ETH price recovers above $3000 | Source: ETHUSD on TradingView.com

Then, the transaction was valued at over $4.2 million. Thus, making the whale trader at a 7.88 decrease since its All-Time-High price of $17.75 on Friday 18^th March.

What Is The APE Coin?

ApeCoin is an Ethereum-based (ERC-20) utility and governance token utilized within the APE network. It facilitates decentralized transactions within the ecosystem and empowers the entire community to develop at the vanguard of web 3.0. ApeCoin has an unchangeably 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, deployed the APE coin for gaming, culture, and community to further the developments of the company’s Web 3.0 innovations.

Already, ApeCoin has been listed among 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 10^th largest whale. However, his portfolio comprises nearly 50% FTT token, FTX exchange’s native token.

Moreover, asides from that first purchase, a second transaction occurred by the 20^th biggest whale in the Ethereum blockchain. This second whale purchased an equal amount of APE tokens that day (Thursday, 17^th March).

On Sunday, ApeCoin published more recent developments about the APE coin, highlighting the collaboration with Time Magazine. Thus, the magazine giant will begin to use the APE coin to facilitate online subscriptions.

Featured image from Pixabay, chart from TradingView.com

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