One cryptocurrency whale came to the fore when he sent some of the altcoins he had bought in large amounts to Binance again.
Altcoin Whale Sends Loaded Coins to Binance
In a recent development, the address “0x4BE5” transferred 463,137 Apecoin (APE) tokens to Binance, the world’s largest cryptocurrency exchange.
The total value of the said transfer was determined to be $2.36 million.
Whale address purchased these coins on December 6, 2022, January 10, 2023, and January 20, 2020 at an average price of $4.74. The same whale currently has 131,222 APEs in its wallet.
Apecoin (APE) price is trading at $5.03 at the time of writing. Considering that the whale sold the coins it transferred to Binance at this price, we see that it made a profit of approximately 134,000 dollars.
However, the price of APE is still trading at a very low price, from its initial price of $39.40.
ApeCoin is a decentralized project inspired by Yuga Labs’ Bored Ape Yacht Club project. ApeCoin was created for use within the emerging APE Ecosystem, supported by the APE Foundation.
The total supply of the APE altcoin is fixed at 1 billion, and at the time the token was airdropped, all the tokens to be circulated were minted.
In addition to participating in ApeCoin governance, token holders can purchase products and services and pay for in-game assets in play-to-earn games such as Animoca Brands’ Benji Bananas game.
*Not investment advice.
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