Home Stock Market Truth or fiction? Did ApeCoin (APE) actually drop by 80% since launch? By Cointelegraph

Truth or fiction? Did ApeCoin (APE) actually drop by 80% since launch? By Cointelegraph

Truth or fiction? Did ApeCoin (APE) actually drop by 80% since launch? By Cointelegraph

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ApeCoin (APE), the governance token of the well-known Bored Ape Yacht Membership (BAYC) NFT mission was airdropped to BAYC and Mutant Ape Yacht Membership (MAYC) homeowners at 8.30 am EST on March 17 and solely eight hours after APE turned tradable within the open market, it has already jumped to the a hundred and tenth most traded token ranked by CoinGecko, totaling $900 million in buying and selling quantity throughout all tracked platforms.

As one would count on, there have been some unstable worth actions minutes after the airdrop and headlines present the value of APE dropping 80% since its launch. This raises the query of whether or not the extraordinary BAYC and MAYC proprietor might have bought APE at $40 as a substitute of $14, which it’s buying and selling for on the time of publishing.

ApeCoin spot 1-minute chart. Supply: FTX
ApeCoin perpetual 1-minute chart. Supply: FTX
APE/USDT 1-minute chart. Supply: Binance
APE/USDT 1-minute chart. Supply: Gate
APE liquidity pool as of March 17. Supply:
APE/USDT liquidity pool as of March 17. Supply: SushiSwap
APE/USDT first minute quantity. Supply: Binance