APE Activity Remains Resilient Despite Economic Contraction

On April 7th, blockchain research company Messari released a report stating that in the face of economic contraction, APE activity remains resilient. Indicators such as token circulation speed, new holders, transfer volume, average market value, average DEX exchange size, and average independent voting all increased month on month. Compared to the previous quarter, APE’s fully diluted valuation (FDV) increased by 20.6% in the first quarter of 2023. In the first quarter of 2023, over 33.2 million APEs were unlocked to non DAO entities, despite selling pressure, which did not result in any abnormal price fluctuations indicating significant selling of APEs. Yuga ecosystem asset holders and APE holders have claimed over 31.4 million APEs. Despite continued selling pressure, the average price of APE tokens is still 20.6% higher than the previous quarter. The APE pledge was launched in early December 2022, and 31.4 million pieces have been pledged in the first quarter of this year. Etherscan data shows that 250 APE holders account for approximately 97.5% of the maximum APE supply, with at least 102 addresses controlled by the APE Foundation, which controls at least 27% of the Whale Wallets.

Messari: Over 33.2 million APEs were unlocked to non DAO entities in the first quarter of 2023, without any abnormal price fluctuations

As the global economy continues to undergo significant contraction, there are concerns about how various sectors will fare. Research firm Messari has offered insights into the cryptocurrency sector, indicating that APE (APEcoin) activity remains resilient even in the face of this economic uncertainty.

Overview of APE Activity

Messari’s report highlights various indicators that point to the resilience of APE activity amid the current economic reality. These indicators include token circulation speed, new holders, transfer volume, average market value, average DEX exchange size, and average independent voting. All of these metrics showed increases month on month.
Compared to the previous quarter, APE’s fully diluted valuation (FDV) increased by 20.6% in the first quarter of 2023. Despite some selling pressure, over 33.2 million APEs were unlocked to non-DAO entities in the first quarter of 2023, with no abnormal price fluctuations recorded. Furthermore, Yuga ecosystem asset holders and APE holders have claimed over 31.4 million APEs.
Despite continued selling pressure, the average price of APE tokens is still 20.6% higher than the previous quarter. The APE pledge, launched in early December 2022, has seen over 31.4 million pieces pledged in the first quarter of this year.

A Closer Look at APE Activity

Let’s take a closer look at some of the key metrics that have contributed to the resilience of APE activity.

Token Circulation Speed

APE’s token circulation speed has been impressive, with an average of 109,000 transactions per day in the first quarter of 2023. This metric has been on an upward trend since the launch of APE in December 2022.

New Holders

At the end of the first quarter of 2023, APE had a total of 928,000 unique holders, an increase of 22.7% from the previous quarter. This metric is an excellent indicator of the growing popularity of APE among cryptocurrency investors.

Transfer Volume

In the first quarter of 2023, APE’s transfer volume reached an average of 23.1 million per day, an increase of 20.5% from the previous quarter. This uptick in transfer volume indicates a growing interest in APE and use cases among investors.

Average Market Value

This metric tells us that the value of APE has remained stable despite economic contraction. In the first quarter of 2023, APE’s average market value was $3.10, an increase of 38.8% from the previous quarter.

APE Pledge

The APE pledge is an indication of the confidence that investors have in the cryptocurrency. Over 31.4 million pieces have been pledged in the first quarter of this year, indicating that investors are willing to invest in APE for the long term.

Who is Driving APE Activity?

Etherscan data shows that 250 APE holders account for approximately 97.5% of the maximum APE supply. At least 102 addresses are controlled by the APE Foundation, which controls at least 27% of the whale wallets.
Despite economic contraction, the APE ecosystem exhibits sustained growth across various indicators. The resilience of APE activity is a positive sign for the cryptocurrency industry as a whole.

Conclusion

The APE ecosystem has outperformed expectations despite a challenging economic climate. Its resilience in the face of economic contraction shows that it is an attractive asset for investors. APE’s sustained growth across various metrics is a promising sign for the cryptocurrency industry, indicating that investors remain optimistic about the future of digital assets.

FAQs:

1. What is APE?
APE is a cryptocurrency that has gained popularity among investors due to its resilience in the face of economic contraction.
2. Why has APE activity remained resilient despite economic contraction?
APE has shown sustained growth across various indicators, including token circulation speed, new holders, transfer volume, average market value, average DEX exchange size, and average independent voting.
3. Who is driving APE activity?
Etherscan data shows that 250 APE holders account for approximately 97.5% of the maximum APE supply, with at least 102 addresses controlled by the APE Foundation, which controls at least 27% of the whale wallets.
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