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Increasing Buying of Ethereum Whales on ApeCoin

Yuga Labs has reported that 62 percent of the total supply of APE will be allocated to the community. Each token will get one vote allowing its holders to give their opinion on upcoming ventures.

Crypto investors are choosing ApeCoin from the popular Bored Ape Yacht Club (BAYC) NFT collection. Especially large Ethereum whales are buying a lot in this. Two large Ethereum whales have bought 600,000 ApeCoins, worth approximately $8.4 million. Other whales are also buying into it. About 9,00,000 ApeCoins have been purchased from Ethereum whales.

WhaleStats As per reports, Gimli, one of the largest Ethereum whales, has also added ApeCoin to its large investment portfolio. It already has about 375 billion Shiba Inu tokens. It has bought 3,00,000 ApeCoin. It has made this purchase in two separate transactions. ApeCoin was launched last week and has been growing in popularity since then. This token can be claimed free of charge by NFT holders of Bored Ape and Mutant Ape Yacht Club. According to data from CoinMarketCap, it touched an initial high of $39.40 (about Rs 3,000). However, it declined later and is in the range of $10-15 since Friday. 

It will initially be used as an in-game token for Yuga Labs titles, and later its sales will be used to fund various digital and physical projects. Yuga Labs has reported that 62 percent of the total supply of APE will be allocated to the community. Each token will receive one vote, allowing its holders to give their opinion on upcoming ventures. According to the Yuga Labs website for ApeCoin , only one billion ApeCoin will be created and 9.75 percent will be held by Yuga Labs. In addition, 14 percent will go to the contributors to the launch, 8 percent to the founders of Yuga Labs and 6.25 percent will be donated to the Jane Goodall Legacy Foundation, which works for the conservation of chimpanzees.

Bored Ape and Mutant Ape NFT holders will get 15% of the total allocation. 47 percent of the total supply will be released to the general public as part of the APE Ecosystem Fund. Yuga Labs expects ApeCoin to be traded on major crypto exchanges. Bored Ape Yacht Club recently donated one million dollars (about Rs 7.5 crore) to Ukraine’s official Ethereum wallet. 

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