Bored Ape Yacht Club’s (BAYC) non-fungible token (NFT) collection surpassed Pudgy Penguins’ floor price on Thursday, according to data from pricing platform NFT Price Floor. BAYC Collection trading volume also grew 27% over the past 24 hours, data from on-chain research firm Nansen shows, surpassing 2,394 ETH. Pudgy Penguins volume fell 58% over the same period.
The reason behind the 6.5% jump in BAYC’s floor price for NFTs is the announcement that Greg Solano will return to his role as CEO at Yuga Labs. Solano is one of the four creators of Yuga Labs, the company behind BAYC.
Additionally, Nansen analyzed the rising trading volume of BAYC NFTs following Solano’s post to identify which addresses have accumulated. An address starting with 0x360 pulled crypto from Binance before the announcement to fund a new wallet, and bought four BAYCs right after. The same address bought a fifth NFT a few hours later.
Another address, starting with 0x68a, has purchased three BAYC NFTs in the last six days. However, this move falls short compared to the 61 BAYCs purchased by the wallet starting with 0x95f between February 13 and 21. This address even received 10 other NFTs from the same collection.
NFT markets are showing strength
Over the past seven days, the NFT has shown positive numbers in various aspects. Data aggregator CryptoSlam points out that sales volume grew 12% in one week, with more than $297 million worth of NFT traded.
The increase in volume was offset by a growth in the number of transactions, which rose by almost 6% to over 2.3 million. Yet the biggest increases were in the number of buyers and sellers, which rose by 53.4% and 57.1% respectively.