Machi Buys $APE At Low Prices
Machi Big Brother used to be a $APE swing trader. On Oct 27, he (Machibigbrother.eth) sold off $APE holdings at high to realize profits.
Then, he started to rebuy lower on Nov 8 when the price fell below $3.82.
Machi Buys $APE For Staking Regardless Of Price
On Dec 11, one day before the rewards for staked $APE went live; Machi Big Brother withdrew 597,191.21 ($2,536,364.32) $APE from Binance.
And he bought $1.38M worth of ApeCoin on Uniswap V3.
All those tokens were staked.
Daily ApeCoin Buyer
Since Dec 11, He continues to buy & stake ApeCoin.
He buys $APE every day.
On Dec 15,
Something interesting, he has yet to buy any $APE today. (Jan 18)
Traders Buy $APE On CEXs For ApeCoin Staking
Before the launch of $APE staking rewards, we detected a continued outflow of ApeCoin.
The number of $APE Active Holders & New Holders increased sharply, matching the Outflow trends.
Meanwhile, the number of Holders decreased as holdings were moved to the staking address.
The $APE balance of almost all centralized exchange addresses decreased.
In conclusion, $APE staking rewards attracted new stakers who buy tokens from CEXs to join.