The excitement around APE reached its peak as the hype around the token increased NFTs, such as BAYC and MAYC, observed growth The announcement of ApeCoin’s [APE] staking rewards increased the hype around the token. Subsequently, there was a lot of interest in the token and the NFTs associated with it. Read Apecoin’s [APE] Price […]
NFTs, such as BAYC and MAYC, observed growthstaking rewards increased the hype around the token. Subsequently, there was a lot of interest in the token and the NFTs associated with it.Many people from the crypto community have tried to profit from staking rewards. The way users can get their hands on the rewards would be to become a part of any one of the four staking pools.Another way is to either be a holder of BAYC NFTs or MAYC NFTs.
The token also garnered attention from whales. As evidenced by the chart below, the supply of APE held by top addresses increased significantly over the last few days. Famous NFT whales, such as the Machi Big Brother, were observed to have $3.9 million worth of APE staked at the time of writing, according to data provided byHowever, because of the increasing hype around the APE token, its Market Value to Realized Value increased significantly, as evidenced in the image below. This indicated that if most APE holders were to sell, they would book a profit while doing so.
There was also a declining long/short difference, which suggested that it would be short-term APE holders would gain the most from selling their APE.Subscribe to get it daily in your inbox.
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