A whale has scooped massive APEX tokens, raising questions about what it means for the asset’s price. According to data tracked today by Onchain Lens, the whale spent $1.029 million USDT to buy 489,376 APEX tokens at a price of $2.1. The investor has locked in a remarkable floating profit of $200,000 after the Apex (APEX) token rose by 233.3% in a single day.
The whale seized the opportunity to take advantage of the recent pump in APEX’s market. His journey with the cryptocurrency started today after he strategically bought 489,376 APEX tokens after carefully assessing market conditions and the performance of the digital asset.
Whale Accumulation Strengths APEX Fundamentals
APEX, the native token of the Apex protocol, has captured the attention of the crypto market as serious investors target the coin. While the broader cryptocurrency market is currently witnessing a period of heightened consolidation and bearish sentiment among most investors, what happens in APEX deserves a closer look.
In recent days, the APEX market has grabbed attention with its impressive movements being noticed. Millions of dollars have been deposited on exchanges as institutional investors enter the market with enthusiasm. These multimillion-dollar transfers signify that whales are adjusting their strategy to capitalize on the potential capability seen in APEX’s price.
The above trade is an indicator that big investors commonly recognized as whales are accumulating APEX tokens amid recent price surges. Analytics from Onchain Lens also disclosed that earlier today, another whale withdrew 3.15 million APEX tokens worth $5.7 million from Bybit to provide liquidity on UniSwap V3. These acquisition pattern reveals that long-term investors (led by institutional clients) are aggressing accumulating APEX as they position themselves for greater price growth potential. These kinds of transactions demonstrate increased confidence among some powerful players in APEX.
APEX’s Price Outlook
Despite the current correction phase being witnessed in most prominent assets like Bitcoin, Ethereum, and many others, APEX has remained the best performer in the broader crypto market. Apex’s price currently stands at $2.034, up 862%, 721%, and 612.5% over the past seven days, two weeks, and one month, respectively. Based on the record above, the crypto asset displays bullish signs, indicating the momentum is in favour of buyers.
APEX’s network growth and corporate partnerships offer additional support for long-term confidence. Yesterday, September 26, the Apex token got approval for listing and trading on the LCX exchange, a move that now enables many investors to transact the asset. This means increased entry of new participants into the market is set to build a supportive price environment as overall demand remains strong.
