Bored Ape Yacht Club re-asserts OpenSea dominance, but down 53% in price Bored Ape Yacht Club re-asserts OpenSea dominance, but down 53% in price
A blip in trading volume last week allowed GODA Mint Pass and WAGDIE to overtake BAYC. But it all changed this week as BAYC regained the top spot on OpenSea, despite halving in price.
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Updated: Jun. 17, 2022 at 12:14 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Data from nftpricefloor.com shows the Bored Ape Yacht Club (BAYC) price floor fell by 53% from its May all-time high.
Fragile market sentiment
On May 1, the minimum price a buyer could expect to pay for a BAYC NFT was 153.582 ETH ($430,000 at the time). Since then, the crypto landscape has undergone a noticeable bearish shift due to several events, including the Terra LUNA/UST implosion.
All of which have taken a toll on the price of BAYC NFTs. A bottom price of 72.503 ETH ($86,000) was hit on June 13. This represents a 53% decrease in the ETH price and, given the falling price of cryptocurrencies the past few weeks, a staggering 80% down in the dollar price.
Twitter user @CryptoDonAlt remained upbeat on his BAYC losses, choosing, instead, to focus on the positive. He accepts he may have wasted 100 ETH. But given a chance to do it again, he emphatically declares he would.
Is there a good chance I just wasted 100 ETH on a JPG?
YupDid it make me smile?
YupDid it make some other people have fun on a shit day?
YupAbsolutely worth, would do again.
The duck will be back in due time, no worries.
Until then we ape.— DonAlt (@CryptoDonAlt) June 15, 2022
According to CoinMarketCap, the BAYC collection ranks second, to CryptoPunks, in terms of all-time volume at 607,444 ETH. But BAYC ranks number one for the estimated market cap, at 978,068 ETH.
Bored Ape Yacht Club (BAYC) reclaims the number one spot
Last week, CryptoSlate reported that BAYC had lost its place as the leading NFT collection on OpenSea by volume.
At the time, the GODA Mint Pass collection, which offers future access to traditional artists looking to get into digital art, was the most traded Ethereum NFT collection.
The day before, on June 8, the most traded was We Are All Going To Die (WAGDIE), a collection of 6,666 tokens depicting “pixelated solemn humanoids” wearing medieval-themed attire.
Since then, BAYC has re-established itself as the leading NFT collection on OpenSea, with over thirteen thousand ETH in volume over the last seven days. Almost twice the volume of the next placed collection, Mutant Ape Yacht Club.
Meanwhile, WAGDIE has a trading volume of 1,631 ETH over the last week, ranking it 11th. While GODA Mint Pass has 1,396 ETH in volume, ranking it 13th.
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Samuel Wan
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
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Bored Ape Yacht Club
Bored Ape Yacht Club, or often colloquially called Bored Ape, is a non-fungible token collection built on the Ethereum blockchain.