Ethereum Whales Buy $6.6 Million Worth of BAYC’s APE Coin

The launch of APE coin has undoubtedly been the story of the week. The cryptocurrency hit the public markets on Thursday after being airdropped to holders of NFTs associated with the Bored Ape Yacht Club (BAYC). It appears that large Ethereum holders are betting big on the token as well.

• Two of the largest Ethereum whales snagged a considerable number of APE a couple of days back. The transactions were flagged by popular whale-tracking resource WhaleStats.
• The first address bought 300,000 APE (worth $3.3 million at current prices) on March 18th. At the time, the transaction was worth $4.2 million, so the whale is currently at a loss.
• It’s interesting to note that this is the 10th biggest ETH whale, but his portfolio consists of almost 50% FTT tokens – the native token of FTX exchange.
• The second transaction was carried out by Ethereum’s 20th largest whale who also bought the same number of APE on the same date.
• In any case, APE coin is currently trading for a 20% loss, sitting at a price of $11.