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The Growing Resilience of APE Activity During Economic Contractions

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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 circu

The Growing Resilience of APE Activity During Economic Contractions

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

According to a recent report released by blockchain research company Messari, APE activity has remained resilient in the face of economic contraction. Despite economic difficulties, APE’s fully diluted valuation (FDV) increased by 20.6% in the first quarter of 2023. This growth has been driven by sustained indicators such as token circulation speed, new holders, transfer volume, average market value, average DEX exchange size, and average independent voting which all increased month on month.

Maintaining Through Selling Pressure

The report notes that 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

The APE pledge was launched in early December 2022, and 31.4 million pieces have been pledged in the first quarter of this year. The pledge is a commitment by holders to hold onto their assets for a longer period of time, creating a more stable market.

APE Holders

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.
As the use of cryptocurrencies continues to grow, APE activity stands out as a leader in resilience through economic difficulties.

Conclusion

APEs have shown exceptional resilience in the first quarter of 2023 in the face of economic contraction. Sustained indicators and the APE pledge contributed to APE’s fully diluted valuation increasing by 20.6%. Despite selling pressure, the average price of APE tokens remains higher than the previous quarter, and the unlocking of APEs to non DAO entities has not resulted in any significant selling of APEs.

FAQs

1. What is a fully diluted valuation?
A fully diluted valuation is the total value of the assets of a company at their current market price, assuming all options, warrants, and convertible securities have been exercised and converted into shares.
2. What is the APE pledge?
The APE pledge is a commitment by APE holders to hold onto their assets for a longer period of time to create a more stable market.
3. How many APE holders control the maximum APE supply?
250 APE holders control approximately 97.5% of the maximum APE supply, with at least 102 addresses controlled by the APE Foundation.

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