![Apecoin [APE] staking might have been its undoing in Q4 2022, new report shows](https://i.headtopics.com/images/2023/2/1/cryptoamb/apecoin-ape-staking-might-have-been-its-undoing-in-apecoin-ape-staking-might-have-been-its-undoing-in-1620838141199355933.webp)
APE suffered a drop in new holders after the launch of APE staking in Q4 2022. Krill accounts held 70.5% of APE’s total supply by the end of Q4 2022. A persistent decline in Apecoin’s [APE] value in Q4 2022, aggravated by the unexpected implosion of cryptocurrency exchange FTX, Messari, in a new report, found […]
Further to the launch of the staking feature, the quantum of staking rewards claimed grew rapidly. The staking rewards were issued after a proposal was passed through the DAO governance system.
However, the count of new holders declined as the increase in staking rewards led to a surge in selling pressure for the altcoin, making it undesirable for many new holders. According to Messari, the quick fall in the count of new APE holders revealed:Source: Messari, Messari had categorized the size of APE holding accounts based on the average APE price of $4 in Q4 2022.The account sizes are divided into different categories: Krill , Fish , Seal , Dolphin , Shark , and Whale .
At the end of Q4, 112,323 unique wallets were holding APE’s total supply, with 70.5% of the holders being Krill accounts, 20.51% being Fish, 5.92% being Seal, 2.03% being Dolphin, 1.17% being Shark, and 0.33% being Whale. The Krill accounts saw a significant increase in the quarter, while the middle tiers saw a decrease in their share.Subscribe to get it daily in your inbox.
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