Apecoin loses most value among leading metaverse projects in the last week
Trading at a 96% decline from its all-time high, more than 95% of APE holders have been plunged into losses. Not slowing down on its decline, APE was ranked as the metaverse-based token with the most price drop in the last week.
• Apecoin’s price fell by 12% in the last week.
• Most of the APE transactions completed in the past week resulted in losses.
ApeCoin’s [APE] price has fallen by almost 15% in the past week, making it the biggest loser among leading metaverse-based projects, data from CoinMarketCap showed.
The decline in APE’s price comes as the broader cryptocurrency market fell recently following the significant liquidity exit suffered in the Bitcoin’s [BTC] futures markets on 17 August.
As APE’s price trended downward in the last week, blockchain sleuth Lookonchain found that an APE wallet holder that claimed 93,700 APE and spent 749 ETH ($2 million at the time) to buy 96,276 APE at $21 on 1 May 2022 dumped all its APE holdings on 23 August, at $1.51, incurring a loss of around $1.5 million.
The APEs continue to take a beating
As of this writing, the metaverse token traded at $1.42, falling by 12% in the last week. Apart from the negative sentiment that plagues the general market, the decline in APE’s price has also been due to a drop in demand for the altcoin.
According to data from IntoTheBlock , the count of addresses that made one or more on-chain transactions involving APE fell by 61% in the past week. New demand for the alt also reduced. Information from the same data provider showed that the number of new addresses created daily to trade APE decreased by 68% within the period under review.
Read More: https://ambcrypto.com/apecoin-loses-most-value-among-leading-metaverse-projects-in-the-last-week/
Trading at a 96% decline from its all-time high, more than 95% of APE holders have been plunged into losses. Not slowing down on its decline, APE was ranked as the metaverse-based token with the most price drop in the last week.
• Apecoin’s price fell by 12% in the last week.
• Most of the APE transactions completed in the past week resulted in losses.
ApeCoin’s [APE] price has fallen by almost 15% in the past week, making it the biggest loser among leading metaverse-based projects, data from CoinMarketCap showed.
The decline in APE’s price comes as the broader cryptocurrency market fell recently following the significant liquidity exit suffered in the Bitcoin’s [BTC] futures markets on 17 August.
As APE’s price trended downward in the last week, blockchain sleuth Lookonchain found that an APE wallet holder that claimed 93,700 APE and spent 749 ETH ($2 million at the time) to buy 96,276 APE at $21 on 1 May 2022 dumped all its APE holdings on 23 August, at $1.51, incurring a loss of around $1.5 million.
The APEs continue to take a beating
As of this writing, the metaverse token traded at $1.42, falling by 12% in the last week. Apart from the negative sentiment that plagues the general market, the decline in APE’s price has also been due to a drop in demand for the altcoin.
According to data from IntoTheBlock , the count of addresses that made one or more on-chain transactions involving APE fell by 61% in the past week. New demand for the alt also reduced. Information from the same data provider showed that the number of new addresses created daily to trade APE decreased by 68% within the period under review.
Read More: https://ambcrypto.com/apecoin-loses-most-value-among-leading-metaverse-projects-in-the-last-week/
| 7,000 mlx | |
| 233 | |
| 4 |
0 comments