Bitcoin rose to intraday highs of $42,405 on Mar. 19 as the crypto market recovery continued. Notably major cryptocurrencies such as Ethereum Classic (ETC, +16.43%), Gala (GALA, +10.02%), Loopring (LRC, +22.07%), Holo (HOT, +12.06%), Audio (AUDIUS, +46.24%) were significantly up in the last 24 hours.
The debut of ApeCoin (APE), a new cryptocurrency token that has attracted great interest in the cryptocurrency market, was announced on March 17 by the Bored Ape Yacht Club, a collection of non-fungible tokens (NFTs).
Bored Ape NFTs are in high demand, with each one fetching several hundred thousand dollars leading to a spark off in interest in ApeCoin. The Universal Music Group, the record label behind such megastars as Taylor Swift and Drake, purchased Bored Ape 5537, one of the non-fungible tokens from the immensely popular Bored Ape Yacht Club NFT collection.
On-chain analytics, Santiment reports a spike in Ethereum whale transactions, stating ”On Tuesday, there were 1,603 Ethereum transactions valued at $1M or more. Prices are +18% since. Similarly, 2,609 1M+ transactions occurred on Feb. 24, and prices jumped +27% in the next week. When ETH whale transactions spike, prices historically rise”.
Whalestats reports that in two separate transactions by two top Ethereum whales, 600,000 ApeCoin or nearly 8.4 million worth have been bought in recent hours. The first transaction was undertaken by a whale ranking 20 and the second by the tenth largest whale according to Whalestats.
A large ETH whale, “Gimli,” ranked 8th by WhaleStats crypto data platform—who holds 375 billion SHIB tokens or $8,201,153 worth of Shiba Inu, has added other altcoins to his portfolio in the last 24 hours.
“Gimli”, well famed for his Shiba Inu buying spree in late last year has acquired nearly 300,000 ApeCoin in two separate transactions. The first transaction done by the ETH whale was a purchase of 84,090 APE or $1,178,952 worth. The second was 216,220 APE or $2,841,135 worth.
This brings the total amount of ApeCoin bought by top ETH whales in the last 24 hours reported by WhaleStats to be nearly 900,000 tokens.
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