Bored Ape Yacht Club reasserts OpenSea dominance, but down 53% in price
Data from nftpricefloor.com shows the Bored Ape Yacht Club (BAYC) price floor has fallen 53% from its all-time high in May.
Fragile market sentiment
On May 1, the minimum price a buyer could expect to pay for a BAYC NFT was 153.582 ETH ($430,000 at the time). Since then, the crypto landscape has undergone a noticeable bearish shift due to several events, including the implosion of Terra LUNA/UST.
All of this weighed on the price of BAYC NFTs. A floor price of 72.503 ETH ($86,000) was reached on June 13. This represents a 53% drop in the price of ETH and, given the decline in the price of cryptocurrencies over the past few weeks, a staggering 80% drop in the dollar price.
twitter user @CryptoDonAlt remained bullish on its BAYC losses, opting instead to focus on the positive. He accepts that he may have wasted 100 ETH. But given a chance to do it again, he adamantly states that he would.
Is there a good chance I just wasted 100 ETH on a JPG?
YeahDid that make me smile?
YeahDid it allow other people to have fun on a shitty day?
YeahAbsolutely worth it, would do it again.
The duck will be back in due time, no worries.
Until then, we ape.— DonAlt (@CryptoDonAlt) June 15, 2022
According to CoinMarketCap, the BAYC collection ranks second, after CryptoPunks, in terms of absolute volume at 607,444 ETH. But BAYC ranks number one for estimated market capitalization, at 978,068 ETH.
The Bored Ape Yacht Club (BAYC) retakes the top spot
Last week, CryptoSlate reported that BAYC had lost its place as the leading NFT collection on OpenSea by volume.
At the time, the GODA Mint Pass collection, which provides future access to traditional artists looking to get into digital art, was the most traded Ethereum NFT collection.
The previous day, June 8, the most traded was We Are All Going To Die (WAGDIE), a collection of 6,666 tokens depicting “pixelated solemn humanoids” wearing medieval-themed clothing.
Since then, BAYC has re-established itself as the leading NFT collection on OpenSea, with over thirteen thousand ETH in volume over the past seven days. Almost twice the volume of the next placed collection, Mutant Ape Yacht Club.
Meanwhile, WAGDIE has a trading volume of 1,631 ETH over the past week, ranking it 11th. While GODA Mint Pass has a volume of 1,396 ETH, ranking it 13th.
