Apecoin (APE) Price Rallies 36% To Hit One-Month High: What's Going On?

ApeCoin (CRYPTO: APE), the native token of the Bored Ape Yacht Club (BAYC) ecosystem, saw a massive rally on Tuesday.

What Happened: According to data from Benzinga Pro, APE surged by 36% to a four-week high of $16.53.

The coin saw a 250% increase in trading volume in the last 24 hours. At the time of writing, APE’s daily trading volume exceeded $1.7 billion.

See Also: ApeCoin Price Predictions

Aside from Ethereum  (CRYPTO: ETH) and stablecoins, APE was the most purchased cryptocurrency among the 100 richest ETH whales over the last day, according to data from WhaleStats.

Whales bought an average amount of $63,476 APE tokens.

 Data from on-chain analytics tool Santiment further evidences the increased interest in APE among ETH whales.

Whales holding between 100,000 to 1,000,000 APE tokens increased their holdings from 3.6% to 3.9% since March 28.