Among these, 24.8 million APE tokens were unlocked and sold by non-DAO entities, accounting for 5% of the circulating supply.
The influx of sell pressure played a role in the consistent downward trend of ApeCoin’s price throughout the quarter. By the end of the quarter, the fully diluted valuation of ApeCoin had fallen by 24%, and the average price had dropped by 32%. Simultaneously, another project within ApeCoin’s ecosystem, namely the BAYC collection, experienced a decline in its floor price over the past week.are interconnected projects, this decline drew additional scrutiny toward APE, with observers speculating on the possibility of a ripple effect. The combined impact of these factors likely contributed to ApeCoin’s lackluster price performance during the period.