Dragonfly Capital Moves $2M in Newly Unlocked APEX to Bybit, Arkham Data Shows

Crypto-focused venture capital firm Dragonfly Capital transferred approximately $2 million in APEX tokens from wallets identified as belonging to the firm to crypto exchange Bybit on Wednesday, according to blockchain analytics platform Arkham.

The transfer comes about two weeks after Dragonfly received the APEX tokens through a token unlock, Arkham data indicates.

Before the transfer, APEX ranked as Dragonfly’s third-largest token holding, behind Lighter (LIT) and Bitget Token (BGB), based on Arkham’s wallet tracking.

APEX is the native governance and utility token of ApeX Protocol, a decentralized, non-custodial exchange that supports trading in crypto perpetual derivatives and spot assets.

At the time of writing, APEX was trading at $0.2581, down 5.8% over the past seven days.

Source: Arkham