The apes are ruling the crypto market. Apecoin [APE] made its debut earlier this year and has been stealing the show ever since. Its association with the Bored Ape Yacht Club [BAYC] undoubtedly came in handy for the altcoin. Despite being new to the crypto-verse, APE managed to score the trust of the whales.
It’s no doubt that whales entail a significant amount of APE. BAYC NFT holders, on the other hand, aren’t far off. During the launch of Apecoin, a total of 150 million APE had been airdropped to the NFT holders. However, only 140,725,540 APE was claimed. Currently, there are a total of 48,570 APE holders in the market. A total of 284,843,750.00 APE is in circulation and more than half of it is governed by the top 100 holders of Apecoin.
As per data curated by coincarp, the Apecoin rich list has significant governance over the supply of the altcoin. The top hundred holders of the asset have power over 52.33 percent of the total supply. This is followed by the top 50 and top 20 having 29.13 percent and 14.13 percent control respectively.
Additionally, 0x28c6c06298d514db089934071355e5743bf21d60 wallet address holds the highest amount of APE. The wallet accounts for nearly 3.05 percent of the circulating supply as it entails 30,529,503 APE.
Apecoin pockets gains while others drown in the red sea
During press time, the entire market was painted red. As Bitcoin [BTC] succumbed to the bears and dropped below $40k, the other coins followed suit. Apecoin, however, was taking a whole different route. With a 5.32 percent increase over the last 24-hours, APE was trading for $17.11.
The altcoin did not take very long to jump into the top 30 cryptocurrencies as its market cap soared to $4,824,796,793.82.
Furthermore, APE was at its peak in terms of popularity as it was one of the most mentioned ERC20 projects on Twitter.