Top 100 Apecoin Holders Control Over 51% of the Supply, APE Lost 81% in 2 Months – News Bitcoin News

Back in mid-March 2022, Bored Ape Yacht Club’s (BAYC) Apecoin DAO launched and airdropped millions of apecoin tokens to specific NFT holders. On April 28, the price of the cryptocurrency asset for BAYC was $26.70 an unit, which is an unprecedented high. Despite the fact that apecoin has fallen more than 81% in the past two months, and despite the fact 80.744 addresses possess APE, only 100 addresses have 51.21% control of the circulating supply.

While Apecoin’s Price Slips Lower, Concentration of Large APE Holders Remains the Same

Two months ago, APE (crypto asset) was the talk of the town after Apecoin DAO gave millions to NFT holders. APE was delivered to Mutant Ape Yacht Club and Bored Ape Kennel Club holders (BAYC)

APE exchanged hands on March 17 for $10.36 per unit, which is 53% less than its current price of $4.81 per APE. APEcoin’s USD value continued to climb after the launch. APEcoin hit an all-time high of $26.70 per Unit (ATH) on April 28.

APE’s circulating supply was around 284,843,750 tokens on April 28th. It also held the 22nd highest market value out of more than 13,000+ cryptocurrency assets. During the ATH, APE’s market cap had a dominance rating of around 0.40% as well. Moreover, at the time APE’s concentration of whale entities was quite large in comparison to most of the top coins.

Today, is an entirely different story, at least for APE’s crypto market performance. During the past month, apecoin has shed ​​14.5% against the U.S. dollar but did see an 8.2% rise during the past seven days. To date, APE is down 81% since the crypto asset’s ATH but what hasn’t changed much is the whale concentration.

Bitcoin.com News announced that 100 addresses held 52% of APE currently in circulation on April 23. APE distribution has not changed much since the crypto winter started and the crypto economy’s value continues to slide. Statistics from coincarp.com’s APE rich list indicate that the top 100 wallets own 51.21% of the circulating supply.

Intuit.com metrics show that APECOIN (APE) currently has an average Concentration of Large Holders rating of 91%. That’s a whole lot more concentrated than bitcoin’s (BTC) rating today which is around 10%.

APE Transfers Drop, Apecoin Research Query Interest Falles 95%

The top 10 APE owners currently hold 8.01%, while the top 20 APE addresses have 13.01%. On July 10, the top 50 APE address held 28.01%. While APE has seen 1,009,507 transactions total, it’s been averaging around 2K to under 1K per day in transfers.

The July 9th, 2022 APE transfer record showed 819 transactions. In the past week $71.24million worth of APE were transaction tied to more than $100K each transaction. The search data also shows that the interest in APECOIN (APE) has dropped a lot over the last two years.

Google Trends (GT) data indicates that on the week of March 13th through the 19th, the search term “apecoin” tapped the highest score of 100. This week, the search query “apecoin” has a score of 5, according to worldwide GT metrics on July 10, 2022.

What do you think about apecoin’s market performance during the past two months? How do you feel about whale concentration? Comment below to share your thoughts on the subject.

Jamie Redman

Jamie Redman is the News Lead for Bitcoin.com News. He also lives in Florida and works as a journalist covering financial technology. Redman joined the cryptocurrency community in 2011 and has been an active participant ever since. Redman is passionate about Bitcoin and open-source codes. Redman is a prolific writer for Bitcoin.com News, with over 5,700 articles on the most disruptive protocols currently in development.