The value of ApeCoin ($APE) has seen a sharp decline following reports that the project owner may have sold a significant amount of tokens through Wintermute on October 22.
As a result, the price of $APE dropped to $1.209, marking a 14.27% decrease in the last 24 hours alone. This sudden downturn has sparked speculation that the project’s owner has indeed offloaded their tokens.
BTW: 10 月 22 日 ApeCoin 项目方疑似通过 Wintermute 抛售代币后， $APE 币价也一路下跌，现价 $1.209（近 24 小时下跌 14.27%），看样子大概率是卖掉了
的确大部分行为都在链上有迹可循，只是当时没有发现罢了，回过头一看会一拍脑门：啊哈，原来是这么回事😆https://t.co/dVcBE6H8Od
— Ai 姨 (@ai_9684xtpa) October 23, 2024
In the past four hours, Wintermute has transferred an additional $5.86 million worth of $APE to Binance, raising eyebrows in the crypto community.
This latest movement is part of a larger trend observed over the past week, during which Wintermute has sent a total of 8.79 million APE tokens (equivalent to roughly $11.39 million) to the exchange.
This represents a staggering 61% increase in token transfers over the last seven days.
Apecoin Large Scale Sell, Price Drop And Activity
The major shift appears to have started on October 21, when the ApeCoin treasury was suspected of engaging in a large-scale sell-off. Since then, the token’s value has plunged by 34%, falling from $1.73 to as low as $1.14. This continuous decline has raised concerns about the future of ApeCoin, as market participants speculate on the potential motivations and implications behind these recent transactions.
Wintermute 过去 4 小时再次向 #Binance 充值价值 586 万美金的 $APE🔍
近一周 Wintermute 已累计向交易所转移 879 万枚 APE（约 1139 万美金），对应 $APE 近七天涨幅达 61%；转折点发生在 10.21 Apecoin 财库疑似抛售，此后币价已下跌 34% ($1.73 > $1.14)📉
钱包地址 https://t.co/7NyxfmUyZJ https://t.co/XdVhSexuQw pic.twitter.com/qIThjnOaSf
— Ai 姨 (@ai_9684xtpa) October 24, 2024
As traders and investors continue to watch developments closely, the market remains uncertain about what the future holds for $APE in the wake of these suspicious movements.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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