Bored Apes keep the market awake: BAYC tops April sales count despite price dip
- BAYC saw its sales count jump in April, despite a decline in its floor price.
- The quarter has been marked by a decline in MAYC’s sales volume and market capitalization.
While blue-chip NFT sales declined by 12.2% in April, leading NFT project Bored Ape Yacht Club [BAYC] saw its sales count rally during that period, data from The Block Pro revealed.
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The total number of blue-chip NFT sales fell from 19.9K to 17.5K, a 12.2% MoM decrease. Bored Ape Yacht Club (BAYC) was the only collection to have an increase in the number of sales throughout April. pic.twitter.com/bvNpWn2o2k
— The Block Pro (@TheBlockPro__) May 15, 2023
Per data from NFTgo, the Blue Chip NFT Index has dwindled since the year began. The Blue Chip Index is calculated by weighing the market capitalization of Blue Chip NFT collections to determine their performance. At 7,616 ETH at press time, it has fallen by 18% since 1 January.
Waning floor price, but spiking sales count
According to data from CryptoSlam, with 444 sales transactions completed in April, BAYC logged a sales volume of $43.83 million. This represented a 32% growth from the 336 transactions completed in March and a 16% rally from the $37.68 million registered in sales volume in March.
However, despite a jump in sales volume and sales count in April, BAYC’s floor price fell by 21% during the 30-day period, according to data from NFT Price Floor. At an average price of 46 ETH at press time, the collection’s price floor dwindled by 14% in the last month.
Following a temporary surge in interest in profile picture NFTs in Q1, Q2 was plagued by a decline in interest in this digital asset class. The general market’s sales volume has dropped by 54% in the past 45. Likewise, the NFT market capitalization plummeted by 14% within the same period.
As for BAYC, while sales volume grew in April on a month-over-month (MoM) basis, it has decreased by 26% so far this quarter. Moreso, the collection’s market capitalization has also reduced by 28% during the same period.
MAYC did not fare any better
Mutant Ape Yacht Club [MAYC], an NFT offshoot collection of BAYC, has performed no better in Q2. With $131.05 million recorded in the past 45 days, the collection’s sales volume has dropped by 32%. Its market capitalization has also fallen by 26% during the same period.
Further, the collection’s floor price has also suffered a decline. According to NFTGo, this has dropped by 26% since the beginning of April. Moreso, at an average price of 11.3 ETH at press time, the value of a MAYC NFT has been reduced by 24% since 1 April.