Nearly 600,000 ApeCoin tokens grabbed by top Ethereum whales

WhaleStats reports that in two separate transactions by two top Ethereum whales, 600,000 ApeCoins, or nearly 8.4 million worth, have been bought in recent hours. The first transaction was undertaken by a whale ranking 20th, and the second by the 10th largest whale, according to WhaleStats.

Simply defined, a whale is someone who owns a chunk of cryptocurrencies or is otherwise a large holder.

The debut of ApeCoin (APE), a new cryptocurrency token that has attracted great interest on the cryptocurrency market, was announced on March 17 by the Bored Ape Yacht Club, a collection of non-fungible tokens (NFTs).

APE attained highs of $18.05 (as seen on Binance exchange) on March 18, before a slight decline to where it trades presently. According to CoinMarketCap statistics, ApeCoin is currently trading at $13.54, down 3% percent in the last 24 hours and 1,253% in the past seven days.

Bored Ape NFTs are in high demand, with each one fetching several hundred thousand dollars leading to a spark in interest in ApeCoin. U.Today previously reported that the Universal Music Group, the record label behind such megastars as Taylor Swift and Drake, purchased Bored Ape 5537, one of the non-fungible tokens from the immensely popular Bored Ape Yacht Club NFT collection.

Whales are increasing holdings

A large ETH whale, “Gimli,” ranked eighth by WhaleStats crypto data platform—who holds 375 billion SHIB tokens or $8,201,153 worth of Shiba Inu, has added other altcoins to his portfolio in the last 24 hours.

“Gimli,” famous for his Shiba Inu buying spree late last year, has acquired nearly 300,000 ApeCoins in two separate transactions. The first transaction made by the ETH whale was a purchase of 84,090 APE, or $1,178,952 worth. The second acquisition was 216,220 APE, or $2,841,135 worth.

This brings the total amount of ApeCoin bought by the top ETH whales in the last 24 hours and reported by WhaleStats to nearly 900,000 tokens.

Source: U.Today