While the cryptocurrency rally led by Bitcoin continued, a whale wallet’s massive altcoin purchase on Binance drew attention.
Transferring 1.95 million USDT to the crypto exchange Binance, the whale account bought 600,000 ApeCoins (APE) using some of its funds on the exchange. The total value of the APE coins purchased by the Whale wallet is approximately $2.5 million.
The whale then staked all the APE tokens it bought.
In addition, it was noteworthy that there were 2 of the Bored Ape Yacht Club NFTs, the most elite NFT collection linked to ApeCoin, in the wallet of the said whale account.
The base price of the Bored Ape Yacht Club NFT collection is at 62.2 Ethereum at the time of this writing.
What is ApeCoin?
ApeCoin is an ERC-20 management and use token used within the APE Ecosystem to empower and foster a decentralized community at the forefront of web3.
ApeCoin holders manage themselves through the decentralized management system controlling the ApeCoin DAO and vote on how the ApeCoin DAO Ecosystem Fund should be used. The APE Foundation manages offers accepted by ApeCoin holders.
ApeCoin, which made a lot of noise as a new meme coin when it was first released, rose to an all-time high with approximately $ 39. At the time of this writing, the coin is trading at $4.11, far from its peak.
*Not investment advice.