Examining BAYC’s latest rally from its 32-month low

• Bored Ape’s minimum price was at a one-month high at the time of this publication
• Meanwhile, CryptoPunks floor price continues to fall

According to data from NFT Floor Price, the floor price of leading non-fungible token (NFT) project, Bored Ape Yacht Club (BAYC), has risen to its highest level in the last month. This, after a prolonged drop in the value of the collection, a drop that took its minimum price to a minimum of three years.

At the time of writing, the lowest price at which a BAYC collection NFT would sell was 17 ETH, which, at current market prices, amounts to $53,086.

The NFT floor price data also revealed that the last time the collection floor price was this high was on March 10.

BAYC sees an increase in sales volume

According to NFT Floor Price, BAYC’s value rally began on April 22, after its lowest price fell to a 32-month low of 1.99 ETH. However, the market witnessed a resurgence of BAYC trading activity on the same day, raising its price floor.

According to CriptoSlam According to data, in the last 7 days, BAYC’s sales volume has increased by 84%, totaling $8 million. During that period, 168 sales transactions were completed, representing a 48% growth in BAYC’s weekly sales transactions.

So far this month, 530 transactions involving NFTs from the collection have been completed. According to CryptoSlam data, BAYC’s monthly sales volume amounted to $23.31 million in the last 26 days, a 78% drop from the $41 million it recorded in April.

How has CryptoPunks fared in comparison?

According NFT minimum priceAccording to the data, the largest NFT collection by market cap, CryptoPunks, has been trending in the opposite direction over the past month. In fact, with a value of 37.98ETH at the time of this publication, its minimum price has fallen by 20% in the last 30 days.

A look at its performance over the past week revealed that its sales volume also increased. According to CryptoSlam data, the collection’s sales volume amounted to $16 million during that period, increasing by 445%.

Interestingly, this sales volume was obtained from only 22 NFT sale transactions.

This is an automatic translation of our English version.