ApeCoin has become one of the most traded assets among the top 5,000 Ethereum addresses in the last 24 hours.
Traders have moved $20 million worth of tokens over the last 24 hours.
APE continues to attract whales. The 100 largest Ethereum whales hold around $20 million worth of APE at their addresses. This continues to carry the asset to an important place in the crypto industry.
Despite the high APE activity of ethereum whales, the asset’s value remains extremely stagnant. The biggest reason for this is that the interest in NFT has decreased significantly with the problems in the crypto sector.
APE fell about 80% of its value after ATH in April.
APE has caused major turmoil on the Ethereum network after its hugely successful launch. The intensity experienced caused the network to become clogged and the use of decentralized applications.
Although comments were made that APE should switch to its own network due to these problems, the DAO, which is behind ApeCoin and BAYC, stated that APE will remain on the Ethereum network.
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