Despite declining from its all-time high, BAYC has had a strong position in the market. Along with other NFTs like Cyberpunk, Blocksmith labs, and a select few others, this NFT was one of the NFT collections that grew and performed incredibly well during the peak of the NFT season.
Amidst the shaken and volatile market, BAYC held on to its number one position despite the whirlwind from all sides. This NFT, which performed exceptionally well, is also praised for its strong resilience during this crypto winter, despite a drop from its all-time high.
According to reports, there is a correlation between BAYC and the Open Sea NFT marketplace, with the floor price of this NFT declining in tandem with the trading volume on the Open Sea.
Recent months have seen increased interaction for the popular NFT collection Bored Ape Yacht Club (BAYC), which has positively swept the Ethereum market off its feet. A recent analysis of its floor price and volume on Open Sea reveals that it is faring quite well despite the crypto crisis.
Despite declining from its all-time high, BAYC has had a strong position in the market. Along with other NFTs like Cyberpunk, Blocksmith labs, and a select few others, this NFT was one of the NFT collections that grew and performed incredibly well during the peak of the NFT season.
Amidst the shaken and volatile market, BAYC held on to its number one position despite the whirlwind from all sides. This NFT, which performed exceptionally well, is also praised for its strong resilience during this crypto winter, despite a drop from its all-time high.
According to reports, there is a correlation between BAYC and the Open Sea NFT marketplace, with the floor price of this NFT declining in tandem with the trading volume on the Open Sea.
However, this demonstrated BAYC’s strong dominance in the market, as well as the dominance of other similar NFTs. Cyberpunks are another NFT that has a stronghold on the NFT market.
Punks and other NFTs like Mutant Ape have also managed to survive with their heads held high during this time. The amount of trading in Cryptopunks increased significantly recently, along with a 30% increase in the number of transactions.
This news is published and verified by the NFT News media team.
