ApeCoin becomes most-traded coin among Ethereum whales

6 months ago
2 mins read

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

The information about the cryptocurrency’s advance to the leading position on the whale trading leaderboard was tweeted by the crypto analytics platform WhaleStats on March 21:

Presently, APE ranks the fourth most purchased token in the top 10, as per the platform with an average purchase amount of $41,833.

Top 10 purchased tokens in 24 hours. Source: WhaleStats

Finbold earlier reported on the ERC-20 governance and utility token within the APE ecosystem that was launched on March 17 and already got listed on major crypto exchanges like Coinbase and Binance, sparking the immense interest of the crypto community. 

Immediately after its launch, it experienced a temporary spike in the price of about $40, only to abruptly plummet shortly after. At the moment of publication, ApeCoin traded at $10.04.

ApeCoin all-time price chart. Source: CoinMarketCap

In the last 24 hours, the Bored Ape cryptocurrency has fallen by 10.63%. It is currently the 48th ranked cryptocurrency by market capitalization, which at the time of publication stood at $2.87 billion, according to CoinMarketCap data.

Time magazine to accept payments in ApeCoin, as Bored Apes popularity rises

Elsewhere, Time magazine’s web3 community initiative TIMEPieces tweeted on March 20 that the news magazine would start accepting ApeCoin as a form of payment for its digital subscriptions “in the coming weeks.”

Bored Apes Yacht Cub is already ranking as the third-most valuable collection of NFTs, with $1.54 billion in all-time sales volume, according to the data from crypto tracking platform CryptoSlam. It is preceded only by Axie Infinity (AXS) and CryptoPunks.

Top 5 NFT collections by all-time sales volume. Source: CryptoSlam

Finally, Finbold reported in early March, the exceptionally popular Bored Ape Yacht Club NFTs were among the top 10 NFT collections by Google search, with an average of 59,000 searches per month.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

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Ana Nicenko

Ana Nicenko has a plethora of knowledge and experience as a journalist covering the cryptocurrency and blockchain industries, having written for a variety of projects and organizations. Additionally, Ana has a master's degree in English Language and Literature. At Finbold, she reports news on the digital assets sector.