ApeCoin Treasury Dumps 4.6M APE
A big move from the ApeCoin treasury: Just 11 hours ago, the ApeCoin Treasury Wallet (0x5b53Ef8F2Bc6315eBedD8c536498C76773404Fd8) transferred all of its remaining 4.6 million APE tokens to Wintermute Trading OTC. This move comes after holding these tokens for over 2.6 years, since March 7, 2022, when they were originally received at a price of $8.54 per token.
Timing the Market or Strategic Move?
The timing of this transfer is interesting, as it coincides with a significant price pump of APE. The token's price surged around 116% in the past two days, likely fueled by the excitement surrounding the launch of ApeChain.
It's unclear whether the treasury's decision to sell now was a strategic move to capitalize on the price increase or simply a routine liquidation.
