ApeCoin APE/USD has emerged as the most traded cryptocurrency by the 1,000 biggest Ethereum ETH/USD wallets in the past 24 hours, as at press time late Sunday.
What Happened: ApeCoin also stood second among the top ten purchased tokens as well as the most used smart contracts by the Ethereum whales, according to data from cryptocurrency data platform WhaleStats.
See Also: ApeCoin Launched: Here Are The Details And How To Get It
Why It Matters: ApeCoin is the token launched on Thursday by decentralized organization ApeDAO that will be used for culture, gaming and commerce to build out the Web3 efforts for the company.
The token has already been listed on several major exchanges including FTX, Coinbase Global COIN, Binance, Gemini, Voyager Digital, Kraken and eToro.
The coin on Sunday retweeted a post that said Time Magazine will start accepting ApeCoin for digital subscriptions in the coming weeks.
Price Action: ApeCoin is down 15.0% during the past 24 hours, trading at $9.81 at press time.
Read Next: Bitcoin Supply On Exchanges Drops To Lowest Level Since December 2018
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