Has ApeCoin really dropped 80% on the first day since its launch?

ApeCoin ($APE) — the governance token of the well-known NFT project Bored Ape Yacht Club (BAYC) was listed yesterday on Mar. 17. The price in the first few minutes were very volatile.

Data shows vast APE price discrepancies ranging from $8 to $214 at centralized exchanges, but how likely is it that holders successfully traded the top half of that range right after the airdrop?

My recently published Cointelegraph article here looks at $APE’s price minutes after the airdrop on Binance, FTX, Gate…