Whale movements attract attention in ApeCoin, released by Bored Ape Yacht Club NFT developer Yuga Labs.
According to Blockchain data, address 0xbaf, which received 5 million APE tokens from ApeCoin Token Distributor 0x03c in March 2022, has been depositing APE tokens on cryptocurrency exchange OKX since August 29, 2023.
The last transaction, which took place recently, involved sending 598,835 APE tokens to OKX at a price of $1.34 per token and was worth $802,000.
This is not the first time 0xbaf has sold APE tokens on OKX. Over the past 10 days, the address deposited a total of 1.48 million APE tokens to OKX at an average price of $1.36 per token, making their total value $2.02 million.
The selling whale currently has 3.51 million APE tokens in its wallet, worth $4.71 million at the current market price of $1.34 per token.
It is worth noting that 0xbaf was one of the earliest contributors to the ApeCoin project; because 5 million APE tokens were distributed from the ApeCoin Token Distributor address with the starting address 0x03c through another address 0x97c on March 7, 2022. At that time, the APE token was traded at $ 8.54 per token; This means that the 0xbaf address acquired tokens worth $ 42.7 million during that period.
*This is not investment advice.