Is OpenSea-BAYC Connect the latest to shake up the NFT market? This data indicates…

  • New data indicates a correlation between BAYC floor prices and OpenSea volume
  • Despite reversing their peak, major cryptocurrencies (BAYC, MAYC, CryptoPunks) have performed well.

BAYC NFT Group has continued to maintain its number one spot in the NFT space despite the volatility of the cryptocurrency market. Delphi Digital cited the impact of the Bored Ape Yacht Club (BAYC) NFT group latest tweet. The tweet also suggested a relationship between BAYC and OpenSea.

a A 112.27xx increase is on the cards if APE reaches the market cap of ETH?

According to the data, BAYC’s floor price peaked around the same time as OpenSea’s total daily trading volume. After reaching its peak, BAYC’s floor price fell, and OpenSea’s trading volume followed suit.

This development suggested that BAYC and other associated NFT groups, such as the Mutant Ape Yacht Club (MAYC) and CryptoPunks, continue to play a major role in generating volume and interest in the NFT markets.

Source: Delphi Digital

From bored monkeys and more…

Having reached its peak, BAYC floor prices have fallen significantly. Last month, the average floor price for a pike The NFT was 67.25 ETH. The bottom price did not experience significant fluctuations during this period, however, BAYC noticed a peak in options selling at the end of the month.

Although whales have shown interest in BAYC NFT, its volume and sales have declined by -7.51% and -36.61% respectively in the past seven days according to DappRadar.

Source: NFTGO

How do apes and mutant villains behave?

NFT pools like MAYC and CryptoPunks have managed to do quite well in this area. The CryptoPunks pool has increased significantly in the past few days, as can be seen in the chart below. Besides, the number of transactions completed with NFT also increased by 36.63% in the past seven days.

Over the same period, the MAYC group has seen a slight uptick in terms of volume and merchants, according to DappRadar. Trading volume increased by 11.18% and the number of traders increased by 9.01%.

Source: Dapp Radar

Any interest generated by the NFT can positively affect ApeCoin and vice versa.

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From the data collected by Santiment, it was noted that the number of daily active addresses for monkey It has increased significantly in the past month. Besides, headlines are also starting to show interest in the token.

This was indicated by the increase in the percentage of APE held by the headliners. Large addresses have shifted from 8% to 14% of the total APE supply in the last month. Despite this increased interest from whales, the price of APE continued to decline.

Source: feeling

At the time of writing, APE was trading at $3.58 and its price is down 0.76% in the last 24 hours.

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