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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.