BAYC Profits Soar as Demand for NFTs Rise, But What Are Holders Worried About?

  • It has been observed that BAYC holders are making profits as the demand for NFT increases.
  • The price of the APE token increased, but the growth of the network continued to decline.

In a new development, the owners of the Bored Ape Yacht Club have been discovered [BAYC] It has been profitable in recent months. NFT assets have outperformed many others in the crypto space, despite the turmoil in the industry markets.

Realistic or not, here’s the market cap of APE in BTC terms

Pike to the moon?

In addition, it was discovered that BAYC and related assets account for 50% of all Ethereum [ETH] NFT volume in the past week. This indicates a high level of interest and demand for BAYC and related assets, which is reflected in the increase in profitability for BAYC holders.

Source: NFTstatistics.eth

In addition, the value of TVL collected by betting on BAYC has also increased, according to data from Dune Analytics. This was a positive sign for the network’s growth and adoption. However, the APY generated by investing this asset has dropped significantly, which can be a concern for investors.

Source: Dune Analytics

In addition, BAYC sales have also increased by 140% in the past 24 hours, according to Dapp Radar. This is a positive sign for the future growth and profitability of the NFT group.

Average price for Mutant Ape Yacht Club [MAYC] It also grew with the number of NFT pool holders. Its price has grown by 14.30% in the past month, according to NFTGO.

Is your wallet green? Check out the ApeCoin Earnings Calculator

Most of the NFT pools in the BAYC group have seen interest from the crypto space in the past month. This interest in the group positively affected its original symbol, APE.

No work for the monkey

According to Santiment data, there was a peak in ApeCoin activity. Its price has increased with daily active addresses.

However, the growth of the ApeCoin network has decreased. This indicates that the number of times new addresses sent APE for the first time has decreased in recent days.

Source: feeling

At the time of writing, the price of APE is at $5.55 after declining 3.59% in the last 24 hours, according to CoinMarketCap.

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