Beats SHIB and FTT: This Altcoin Has Become The Most Traded Token By Whales!

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A cryptocurrency token released by the creators of the popular non-fungible token (NFT) collection Bored Ape Yacht Club. ApeCoin (APE)has become the most traded digital asset among the 1,000 most traded Ethereum (ETH) wallets in the past 24 hours.

This development regarding the cryptocurrency’s advancement to the leading position in the list of the most traded tokens by whales was shared on March 21 by whale tracking platform WhaleStats:

ApeCoin also ranked fifth among the top ten most purchased tokens by Ethereum whales, with an average purchase value of $42,302 and 4,103 tokens at the time of writing, according to data from cryptocurrency data platform WhaleStats. APE is also in the 2nd place in the list of the most used smart contracts.

Whales are heavily buying Apecoin

The whale watching platform is the 20th largest existing ETH whale, to ApeCoin (APE) He found that he had invested over $4.20 million. This whale collected 300,000 tokens in a single transaction.

This was not the only whale showing interest in Anack ApeCoin. WhaleStats said that the 10th largest ETH whale in existence has also amassed 300,000 APE tokens worth more than $4.2 million. The ninth largest ETH whale also entered the ApeCoin buying spree, ingesting $216,220 APE worth $2.84 million.

Besides, one of the top 10 whales joined the herd, the eighth richest Ethereum whale bought 84,090 APE tokens worth $1.17 million.

What is ApeCoin (APE)?

ApeCoin (APE) is a governance and service token serving the community and collections of communities owned by its parent company Yuga Labs, designed to strengthen the decentralized community structure of the Bored Ape Yacht Club (BAYC) ecosystem.

ApeCoin is a token launched Thursday by decentralized organization ApeDAO, which will be used for culture, gaming and commerce to support the company’s Web3 efforts.

ApeCoin has been very quickly adopted in the market

Although ApeCoin (APE) is a fairly new cryptocurrency, it has already been listed on several major exchanges, including FTX, Coinbase Global COIN, Binance, Gemini, Voyager Digital, Kraken, and eToro.

Moreover, it was announced that the cryptocurrency will be used as a payment method for the digital subscriptions of the Times magazine. TIMEPieces, Time magazine’s web3 community initiative, shared on March 20 that the popular magazine will begin accepting ApeCoin as a form of payment for its digital subscriptions “in the coming weeks.”

According to data from crypto tracking platform CryptoSlam, the Bored Apes Yacht Cub is the third most valuable NFT collection of all time by volume, with $1.54 billion. Only Axie Infinity (AXS) and CryptoPunks precede it.

You can check the price movements here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.


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