{"id":521253,"date":"2023-02-28T02:37:57","date_gmt":"2023-02-28T02:37:57","guid":{"rendered":"https:\/\/wncen.com\/?p=521253"},"modified":"2024-06-11T14:32:54","modified_gmt":"2024-06-11T14:32:54","slug":"ape-price-bears-spark-jitters","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ape-price-bears-spark-jitters\/","title":{"rendered":"APE Price: Bears Spark Jitters As Crypto Sell Pressure Mounts"},"content":{"rendered":"
With the apes showing weakness, bears swoop in to claw out some gains. According to <\/span>Coingecko<\/span><\/a>, APE price has lost its aggressiveness since the start of February, with the biggest losses being observed in the weekly time frame at 7%. This suggests that the bears have a significant grip in the ApeCoin market.<\/span><\/p>\n However, recent price movements in the crypto market put this thesis into question. Market leaders Bitcoin and Ethereum has remained stable in their current price levels, indicating that the bulls are somewhat gaining ground after the broader <\/span>market slump<\/span><\/a> earlier this month.<\/span><\/p>\n Investors, however, are concerned about several developments that further threaten the token’s future price movement.<\/span><\/p>\n Sentiment around the token largely revolved around a recent transfer of tokens to an exchange. Reports <\/span>show<\/span><\/a> that an address transferred over 436,173 APE tokens to Binance. At the token’s current price of $5.17, the transfer is worth nearly $2.4 million. <\/span>However, this may not be the work of the bears.<\/span><\/p>\n On February 17, the Bored Ape Yacht Club followed through its vesting period and <\/span>released<\/span> 7.3 million APE tokens to the market which inevitably put pressure on the token’s price. As of press time, the token released is worth $37.7 million.\u00a0<\/span><\/p>\nBears Done APE-ing Around \u2026 Or, Are They?<\/strong><\/h2>\n