Crypto

Ethereum whales turned out to be the main owners of the ApeCoin token

The cats of the cryptocurrency market were most interested in the APE token from the developers of the Bored Ape Yacht Club...

Written by Niel Patel · 1 min read >
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The cats of the cryptocurrency market were most interested in the APE token from the developers of the Bored Ape Yacht Club collection

Yuga Labs’ ApeCoin (APE) token proved to be the most popular among ether whales (investors with an average balance of ~160,000 ETH). This is evidenced by data from the WhaleStats resource. As you can see in the list below, APE took 5th place in the top 10 tokens that ether whales buy. The average purchase volume is $448,000. Set up deals like that is easier with the right service, like bti.live

Also, APE is included in the top 10 among the most sold tokens. Here it is not located in the first place, which speaks precisely about the buyer among investors. Despite the large purchase volumes, APE is still not the main altcoin on the whales’ balance sheet.

Most whales hold the token of the FTX exchange for a total amount of $1.7 billion. In second place is the “meme altcoin” SHIB for $1.2 billion.

Earlier it became known that APE surpassed Bitcoin in trading volume on Binance. The trading volume in the APE/USDT pair reached ~$2.4 billion. In Bitcoin, this indicator was at the level of ~$1.3 billion.

We will remind you, earlier the creators of Bored Ape Yacht Club launched their APE token. It is managed by the decentralized organization ApeCoin DAO. Could be bought at Bit soft360

ApeCoin DAO managers already include Reddit co-founder Alexis Ohanian, FTX head of venture capital Amy Wu, Sound Ventures head Maaria Bajwa, Animoca Brands co-founder Yat Siu, and Horizen Labs president Dean Steinbeck. By what principle the appointment was determined remains unknown.

As noted by blockchain correspondent Colin Wu, Alameda Research, an FTX-affiliated firm, traded more than $1.8 million in the WETH/APE trading pair on Uniswap V3 using high-frequency trading.

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