When APEs are crying

The ApeCoin supply on exchange reached record high level since December:

Network realized profit/loss is almost completely underwater indicating possible exits in loss all the period:

Aligned with increasing transaction volume...

... 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

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