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NFTs News

Over $3 Million Was Spent By An Ethereum Whale On 200,000 ApeCoin Units

May 7, 2022 - Around 2 mins mins to read

ApeCoin, a crypto-token associated to bored apes, has become one of the most widely traded digital currencies on the Ethereum blockchain network.

Over $3 Million Was Spent By An Ethereum Whale On 200,000 ApeCoin Units
Over $3 Million Was Spent By An Ethereum Whale On 200,000 Ape Units

Per data from WhaleStats, an on-chain data tracker, a whale had purchased over 200,000 units of the coin earlier today. The on-chain tracker revealed that the transaction happened over 20 hours ago and it is worth around $3.2 million.

The whale’s wallet, named “Bonobo”, ranks in the top 5 ETH addresses and holds the native token of FTX, FTT alongside others like USDT, USDC, as well as Chainlink’s LINK, and Wrapped Bitcoin.

ApeCoin is the second most traded digital asset amongst Ethereum wallets. Ethereum investors hold 2.5 million units of the coin, which is worth approximately $35 million. Shiba Inu’s SHIB is the most traded coin amongst whales as they hold roughly $1 billion worth of the coin.

ApeCoin’s Value Drop After Otherside Launch

Over 3 Million Was Spent By An Ethereum Whale On 200000 ApeCoin Units 2
Over $3 Million Was Spent By An Ethereum Whale On 200,000 Ape Units

ApeCoin’s value had spiked to an all-time high in anticipation of the launch of Yuga Labs Otherside launch. The metaverse project was bought with the coin which had led to an increased demand that pushed it to as high as $26.70.

However, immediately after the launch, the value of the coin dropped by almost 44% within the last 7 days, per data from Coingecko.

Yuga Labs, in a statement, had hinted that the coin might have to migrate to its own chain so that it can properly scale.

However, days after the statement, the coin was integrated with Polygon, meaning it is now available to MATIC’s 19,000 decentralized applications.

Notably, an ApeCoinDAO board member revealed that there has been no “No discussion about an ApeCoin chain.”

As of press time, ApeCoin’s value was trading for less than $14.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Annie

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APECoin

ApeCoin Units

Blockchain network

ETH

Ethereum blockchain

Ethereum Whale

Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
NFTs News

Over $3 Million Was Spent By An Ethereum Whale On 200,000 ApeCoin Units

ApeCoin, a crypto-token associated to bored apes, has become one of the most widely traded digital currencies on the Ethereum blockchain network.

Over $3 Million Was Spent By An Ethereum Whale On 200,000 ApeCoin Units
Over $3 Million Was Spent By An Ethereum Whale On 200,000 Ape Units

Per data from WhaleStats, an on-chain data tracker, a whale had purchased over 200,000 units of the coin earlier today. The on-chain tracker revealed that the transaction happened over 20 hours ago and it is worth around $3.2 million.

The whale’s wallet, named “Bonobo”, ranks in the top 5 ETH addresses and holds the native token of FTX, FTT alongside others like USDT, USDC, as well as Chainlink’s LINK, and Wrapped Bitcoin.

ApeCoin is the second most traded digital asset amongst Ethereum wallets. Ethereum investors hold 2.5 million units of the coin, which is worth approximately $35 million. Shiba Inu’s SHIB is the most traded coin amongst whales as they hold roughly $1 billion worth of the coin.

ApeCoin’s Value Drop After Otherside Launch

Over 3 Million Was Spent By An Ethereum Whale On 200000 ApeCoin Units 2
Over $3 Million Was Spent By An Ethereum Whale On 200,000 Ape Units

ApeCoin’s value had spiked to an all-time high in anticipation of the launch of Yuga Labs Otherside launch. The metaverse project was bought with the coin which had led to an increased demand that pushed it to as high as $26.70.

However, immediately after the launch, the value of the coin dropped by almost 44% within the last 7 days, per data from Coingecko.

Yuga Labs, in a statement, had hinted that the coin might have to migrate to its own chain so that it can properly scale.

However, days after the statement, the coin was integrated with Polygon, meaning it is now available to MATIC’s 19,000 decentralized applications.

Notably, an ApeCoinDAO board member revealed that there has been no “No discussion about an ApeCoin chain.”

As of press time, ApeCoin’s value was trading for less than $14.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

CoinCu News