As mentioned before, the $APEX buyback. This buyback indicates two things: the buyback amount (2m) + the buyback cycle (weekly). The next few weeks should see a similar figure of around 2m. It has a circulating market cap of 150m, and the buyback of 2m accounts for 1.3% of the total circulation this week. I think there is potential; if this doesn't drive the price up, then it's better not to pursue the Apex project.
The cost for the market makers is between 0.2-0.3, and they will certainly allow for high volatility in the $APEX price, but this also brings a downside—if the price fluctuates too much, it will inadvertently discourage users who are inflating the volume on their platform.
$APEX
We talked about this before, mainly from the perspective of pushing Mantle from Bybit. Now we can discuss the impact of product revenue on coin prices.
Currently, Apex has launched a trading volume incentive program. Looking at the DeFillama perpdex trading volume rankings, Apex's 7-day trading volume ranking has already jumped to fourth place. With the rollout of the incentive program (Apex stated from the beginning that a fixed number of Ape Points would be distributed weekly for three months), its trading volume could potentially flip edgeX, Lighter, and Hyperliquid.
This also leads to another point: its fee revenue will also rise accordingly (currently, DeFillama has not tracked this yet). At present, 50% of the fees will be used for buybacks, and this proportion will increase in the future. I believe that the price of $APEX is still profitable right now.
One thing to note is that from its description, I think these buybacks should occur in real-time daily (they have not started yet). But if it’s not this kind of buyback method, then it could be quite troublesome. Now we need to see the buyback time, method, and frequency for that address.
trading the revenue meta gaming.
4.5K
7
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.