• 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.

Is your portfolio green? Check out the ApeCoin Profit Calculator

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. 

A wallet dumped all $APE at a loss of ~$1.5M 8 hours ago!

The wallet claimed 93,700 $APE and spent 749 $ETH($2M at the time) to buy 96,276 $APE at a price of $21

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Author: Abiodun Oladokun

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