Dormant wallet 0x217 tied to ApeCoin just deposited 4.58M APE ($5.22M) to Wintermute Trading OTC:

• transaction: 0x69661cb26d243731196b953915b569a1df39903a75f9626c75175cd182166ed1
• address: 0x217f5ba513c845ee09b3565155b83b0a4b5a7946

Notably, these APE tokens were released from the ApeCoin distributor in 2022. Overall, following a 143% price surge after the ApeChain launch 4 days ago, 3 wallets that received APE from the ApeCoin distributor in 2022 moved 12.467M APE ($17.54M) to Wintermute Trading OTC, likely contributing to the recent price correction.

• other address 1: 0xe642c56256cf83b1c0f4b95a6869b193b7145ecc
• other address 2: 0x5b53ef8f2bc6315ebedd8c536498c76773404fd8

Also, note that 84 of the top 100 APE-holding wallets still hold 382.71M APE ($443.9M), or 51% of the circulating supply—all originating from the same distributor in 2022 as the 3 wallets above.

The APE price dropped 15.97% in the past 24 hours.

Fig 1. Three wallets that received APE from the ApeCoin distributor in 2022 moved 12.467M APE ($17.54M) to Wintermute Trading OTC in the past 2 days.