ApeCoin price went bananas once it listed at centralized exchanges, but did any holders successfully trade $APE at the $28 to $214 range shown at some exchanges?
), the governance token of the well-known Bored Ape Yacht Club NFT project was airdropped to BAYC and Mutant Ape Yacht Club owners at 8.30 am EST on March 17 and only eight hours after APE became tradable in the open market, it has already jumped to the 110th most traded token ranked by CoinGecko, totaling $900 million in trading volume across all tracked platforms.
The trading volume of Binance is the highest among the three platforms used in this article and the reader should know that APE is also traded on other platforms. In the first five minutes, Binance's total trading volume was $42 million, whereas FTX perpetual’s trading volume is in total $18 million and the spot volume is $6 million. Gate only has $1,665 trading volume on the candle, which shows the highest price of $214 and only $43,000 total volume in the first five minutes.
Second, once APE is in the recipient's Ethereum wallet, it has to be transferred to centralized exchanges such as Binance and FTX to be sold. This also takes some time, depending on the traffic on the chain at the time. The quickest way would be to use a decentralized exchange by simply connecting the Ethereum wallet and swapping APE for another token.
No BAYC owners can swap the entirety of the airdrop on SushiSwap for USDT since the TVL of $67,000 cannot cover 10,000 APE swaps per BAYC or the 2,000 APE per MAYC at the price of $28.
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