ApeCoin is the newest cryptocurrency in the market, and it has received overwhelming attention from crypto investors. The token was developed by the Bored Ape Yacht Club, which is a valuable and popular NFT collection.
ApeCoin attracts Ethereum whales
Reports have stated that two of the largest Ethereum whales have bought 600,000 ApeCoins, valued at around $8.4 million at the current prices. The whale addresses rank as the 10th and 20th largest coin holders on the Ethereum network.
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Another large Ethereum whale known as “Gimli” has added ApeCoin into his large investment portfolio. This whale address holds 375 billion SHIB tokens, and it has now purchased 300,000 ApeCoins. The whale made the purchase through two different transactions, where he initially bough 84,090 APE and added another 216,220 APE.
Data from WhaleStats shows that during the past 24 hours, Ethereum whales have bought around 900,000 tokens. This is a large number, given that the token has only been trading for a few days.
The launch of ApeCoin
ApeCoin (APE) is a new cryptocurrency in the market. The token has attracted overwhelming interest from the cryptocurrency market. The token was unveiled on March 17, and its trading volumes have skyrocketed. The token was launched by the Bored Ape Yacht Club, which is a collection of non-fungible tokens (NFTs).
ON March 18, APE reached an all-time high of $17.17, according to CoinGecko. During the past 24 hours, the coin has dipped by 18.7%, and it was trading at $11.37 at the time of writing. During the past seven days, the token has surged by over 1000%, and the recent downtrend could be a correction from the increased buying pressure.
The BAYC NFT Collection has also attracted a lot of interest. These NFTs have a high level of demand, with each one valued at hundreds of thousands of dollars. The success of this NFT collection could be behind the demand for APE.
The Bored APE NFT collection has attracted celebrities like Justin Bieber, Drake and Taylor Swift. The Universal Music Group also bought the Bored Ape 5537, one of the NFTs in this collection.
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Source: https://invezz.com/news/2022/03/20/top-ethereum-whales-accumulate-newly-launched-apecoin-ape/