Whales Purchasing APEs on Binance: A Sign of Bullish Market?

02/17/2023 07:24 • Crypto & Markets • 103 views

It is reported that, according to the monitoring of Lookonchain, in the past seven days, three giant whales have purchased a total of 1.6 million APEs (about US $8.5 million) from Binance and pledged them. Among them, the address beginning with 0x09BC purchased 750954 APEs at a price of about US $5.16 (worth about US $3.87 million). The address beginning with 0xb0ec purchased 663681 APEs (worth about $3.62 million) at a price of about $5.45. The address beginning with 0x3A51 purchased 187890 APEs (worth about US $1 million) at a price of about US $5.3.

In the past seven days, three giant whales have purchased nearly US $8.5 million of APE and pledged

Interpretation of the news:

The recent purchase of APEs by three giant whales, totaling 1.6 million tokens or about US $8.5 million, has caught the attention of the cryptocurrency market. Lookonchain, a leading monitoring platform, has revealed that these whales made significant investments on Binance and subsequently pledged them. According to the report, the three addresses that bought the APE tokens are 0x09BC, 0xb0ec, and 0x3A51. The address 0x09BC purchased the highest number of APEs (750,954) at a price of approximately US $5.16, worth about US $3.87 million.

It is a unique phenomenon when whales make large purchases of cryptocurrency, as it is an active indicator of their belief in the token’s future prospects. When a whale buys a cryptocurrency in large volumes, it usually leads to an increase in its price. This purchase of APEs by the three whales, therefore, can be interpreted as a bullish sentiment towards the APEs cryptocurrency.

Given that the three whale addresses bought the APEs token on Binance, it is also possible that the exchange could be experiencing an increase in demand from institutional or large investors. This demand could provide a significant boost to the liquidity and overall health of the market.

Further, the fact that the whales have pledged their purchased tokens indicates a long-term investment strategy aimed to increase their stake in APEs. This strategy usually involves holding onto the token for an extended period and not selling it until it has reached a predetermined value. This strategy could lead to a potential increase in demand for APEs in the future, thus making the token’s price rise even further.

In conclusion, the purchase of APEs by these three whales on Binance is a strong indication of their belief in the token and its potential for being highly profitable. The investment strategy they have employed also indicates a long-term perspective to their investment, which could further boost the demand for APEs in the future. It remains to be seen whether the bullish market sentiment of APEs persists or whether it will result in a successful investment strategy for these three whales.

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Whales Purchasing APEs on Binance: A Sign of Bullish Market?

In the past seven days, three giant whales have purchased nearly US $8.5 million of APE and pledged

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