The world’s largest cryptocurrency exchange Binance temporarily suspended lending in ApeCoin (APE) because the current supply of the token cannot meet the rush of demand.
Binance lending involves giving a user a simple loan against the cryptocurrency, and APE tokens have become the most sought-after coin in just one month of existence.
Since its inception, Apecoin prices have risen 2145%, and APE’s 24-hour trading volume of $7.4 billion has grown more than 300%.
Not coincidentally, Ethereum wallets are actively accumulating APE tokens: according to WhaleStats, ETH wallets have added more than $5.7 million worth of ApeCoin in the last 24 hours. A crypto-kit named “BlueWhale0098” has single-handedly acquired $3.4 million worth of APE tokens.
The largest of the ETH wallets holds a total of more than $36 million worth of ApeCoin.