- Bored Ape #1734 recently sold for 600 ETH.
- The BAYC collection saw an increase of more than 8% in its bottom price as it topped the daily rankings.
Just a few weeks ago, the BAYC collection experienced a significant drop in rock bottom prices and reached an all-time low. This decline caused many onlookers to proclaim the demise of NFTs.
However, in a remarkable turn of events, a recent transaction involving one of the collection’s NFTs managed to raise a staggering sum of over $1 million. Are NFTs rising from the ashes?
BAYC NFT orders record sales
Recent reports have highlighted a remarkable event within the BAYC collection. One particular NFT, Bored Ape #1734, made an extraordinary sale on July 13, priced at 600 ETH, equivalent to approximately $1.2 million.
This remarkable transaction provided a much-needed boost to the collection and wider NFT market, which has been struggling in a downtrend. Nevertheless, amidst the excitement, some reservations emerged, with certain commentators raising concerns about the legitimacy of the sale, labeling it a “laundry deal.”
How the stats stack up
Analysis of the analyzes of the BAYC collection op Open sea revealed a mixed bag of positive and negative statistics. One of the notable positives was the upward trajectory of the floor price. It had witnessed an impressive 8% increase in the past seven days. The average floor price was close to 35 ETH, a significant improvement from around 32 ETH just a week ago.
However, the collection has faced volume and sales challenges as both indicators have experienced a significant decline. Volume plummeted by no less than 91%, while sales dropped significantly by 92%.
These figures indicated a remarkable drop in activity within the collection. While the rock-bottom price increase is undoubtedly encouraging, the significant volume and sales declines indicate a more subdued market for the BAYC collection in recent times.
BAYC collection is at the top of the daily ranking
According to data from DappRadar, the BAYC collection emerged as a front-runner among the NFT collections based on various daily metrics. At the time of writing, the average price is up by as much as 80%, representing a remarkable increase in value.
In addition, the market capitalization increased by almost 5%, reflecting growing interest from investors. The transaction volume also experienced a significant boost, with an impressive growth rate of over 82%.
Source: DappRadar
In addition, DappRadar highlighted that the recent sale of Bored Ape #1734 is the highest recorded sale in the last 30 days for all NFT collections.
This important transaction generated a lot of anticipation as to whether it will spark a positive trend for the BAYC collection and the wider NFT space. The coming weeks will probably provide more clarity on this.