BAYC’s ApeCoin Jumps 13%, Causes $4.5M in Futures Liquidations

Traders of futures tracking ApeCoin lost over $4.5 million in the past 24 hours as prices surged by 13% amid a broader market jump,Some 66% of all APE futures traders were short, or betting against higher prices, the recently-issued token. These accounted for $2.81 million of all losses, while $1.44 million were long, or betting on higher prices.

APE traded at the $13.88 level on Sunday night, surging over $15.44 in early Asian hours on Monday. APE was issued on Mar. 17 and saw listings on several influential crypto exchanges, such as Coinbase. Prices were volatile in the days afterward,

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