ApeSwap, one of the leading BINANCE Smart Chain decentralized exchanges, has witnessed a dramatic increase in unique trader amounts since mid of July. 30d Dashboard: Unique trader amount +631.91%, trade counts +243.73%.
Since July, the ApeSwap team has announced a lot of new programs, including a new governance feature, Non-Fungible Apes utility and NFA auction house. These might have encouraged the users to actively interact with the dex.
The dex’s unique traders started to grow on 16th July from 6.67K and rallied to a new ATH 55.02K on 26th Jul, which is a sharp 9 times growth in just 10 days.
The trade counts broke a new record high of 192.26K on the same day.
The $BANANA price strongly bounced back in the same period of time. According to Coingecko, its price has gained 242.3% since 16th July. We can see clearly from the graph above that the $BANANA price has a high correlation with its trader amount and trade count.
As the trader amount and trade counts are gradually falling down in August, will the price follow the downward trend? Track ApeSwap’s on-chain data: https://www.dapp.com/app/apeswap/.
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