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- ApeCoin transferred 8.289 million APE to Wintermute OTC, marking a major liquidity move for the token.
- The launch of ApeChain has significantly increased the utility and demand for ApeCoin across the ecosystem.
Arkham Intelligence has unveiled the transfer of 8.289 million APE tokens, worth more than $12 million, from the official ApeCoin address to Wintermute OTC. As ApeCoin introduces its own blockchain, ApeChain, this transaction fits with their approach to improving liquidity.
Wintermute Role in Enhancing ApeCoin Liquidity and Stability
Key market player Wintermute is in charge of guaranteeing better trading by boosting liquidity and APE price stabilization on exchanges. Given the volume of tokens transferred, Wintermute’s increasing influence on ApeCoin’s market dynamics—particularly in an era of great market volatility—is notably highlighted.
This calculated action coincides with the recent launch of ApeChain, created from Arbitrum technology to offer scalability and a gaming concentration inside the Bored Ape Yacht Club ecosystem. ApeChain’s release has greatly broadened the applications for ApeCoin, thereby turning it into a central asset inside a certain infrastructure.
Since ApeChain’s native gas token is APE, this has made it more valuable and sought after in several distributed applications. The introduction has generated a lot of curiosity among the crypto world, which has affected the price of ApeCoin.
Previously, the launch of ApeChain folllowed with a notable increase in ApeCoin’s price. APE has skyrocketed over 100% since the chain went live, attracting a flood of new investment interest. The growing demand for APE and the infrastructure ApeChain offers have produced a strong and active token market.
While there has been some recent price adjustment, market analysts are attentively observing and pointing out that this movement is considered part of a normal consolidation process inside the larger uptrend.
As we previously reported, ApeCoin has started bridges on ApeChain so users may generate native yield earnings on APE, ETH, and stablecoins. Meanwhile, APE is swapped hands about $1.41 as of writing, an 86.46% increase over the last seven days.
