The Yuga Labs’ decision to develop ApeCoin (APE) has swept the cryptocurrency market. Due to the lab’s consecutive announcements, APE has become the most trending coin. ApeCoin’s prices have increased by almost 950 percent since its introduction.
Additionally, Ethereum (ETH) whales have expressed interest in the coin. According to Whalestats, APE is among the top ten tokens purchased by ETH whales in the previous 24 hours.
ApeCoin is the target of ETH whales
ApeCoin has also made it into the top ten coins purchased by whales in the last seven days. The token is now ranked sixth among all cryptocurrencies. The significant price increase has also resulted in the token becoming the most traded cryptocurrency by the largest ETH wallets.
🏆 Top 10 purchased tokens by 100 biggest #ETH whales over the last 24hrs
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) March 21, 2022
APE is shown on nearly every chart in the Whalestats database of the world’s largest ETH wallets. Interestingly, the coin ranked first on the list of the most frequently used smart contracts over the last 24 hours.
Previously, an Ethereum whale purchased 300,000 APE for a total value of $4.2 million. According to reports, this transaction was carried out via the tenth largest Ethereum wallet.
Since its introduction, the price of APE has increased by nearly 950 percent
Since its launch, ApeCoin has experienced a massive price increase. Since its inception, the coin has increased by over 950 percent as a large number of crypto and NFT aficionados expressed interest in it. At the time of publication, APE was trading at an average price of $10.92, a decrease of 5.27 percent. The token has already cracked the top 50 cryptocurrencies list. According to CoinMarketCap, the APR coin is ranked 45th with a market valuation of more than $3 billion.
Yuga Labs recently announced the launch of Otherside, a metaverse powered by ApeCoin. It is scheduled to launch in April.
— Yuga Labs (@yugalabs) March 19, 2022
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.