When APEs are crying
The ApeCoin supply on exchange reached record high level since December:
![](https://production-sanbase-images.s3.amazonaws.com/uploads/d1a6b2a44d62454782cefaff6f75309e19884db5fe18691e2643af4366b2efdf_1691509909519_ApeCoin%20%28APE%29%20%5B17.51.42%2C%2008%20Aug%2C%202023%5D.png)
Network realized profit/loss is almost completely underwater indicating possible exits in loss all the period:
![](https://production-sanbase-images.s3.amazonaws.com/uploads/a5452ba3254d95cb9f78c6c7e783949de40386bde4987fab2a05d8601edcce27_1691510035756_ApeCoin%20%28APE%29%20%5B17.52.29%2C%2008%20Aug%2C%202023%5D.png)
Aligned with increasing transaction volume...
![](https://production-sanbase-images.s3.amazonaws.com/uploads/62c1df50cb0f1faf20eb7d09763ba310722bfd7fdd8cf4fd77e6dea6a6e75ccb_1691510097826_ApeCoin%20%28APE%29%20%5B17.54.28%2C%2008%20Aug%2C%202023%5D.png)
... and bearish sentiment within APE holders and towards NFT overall, what could it mean?
More on-chain data to analyze on a chart layout: https://app.santiment.net/s/loEcG-n3
Thanks for reading!
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