Weekly sales of Blue Chip NFTs are down by approx 64% where the speculations are this could be the effect of ongoing crypto market conditions
Looking at the conditions of the market during the past week where the prices of nonfungible tokens have dropped drastically. Collections of Blue Chip NFT based on Ethereum networks like Bored Ape Yacht Club (BAYC), CryptoPunks, and a lot more of them have seen a drop in their floor values between 2% to 25% in the past 24 hours. Earlier during the past week, sales of these non fungible tokens have dropped by approx 64.84%. Almost every other popular collection is considerably down when it comes to sales during week over a week period.
Sales of Othedeed NFTs are down by around 90.3%; Bored Ape Yacht Club slid by around 63.7%, approx 65.7% drop in sale of Mutant Ape Yacht Club and CryptoPunks sales are also down by 3.39% during last seven days. Floor values of NFTs have slided a great deal in terms of value during the last 24 hours as the ongoing carnage in the crypto market has not remained kind to these digital art collectibles. Today Bored Ape Yacht Club’s floor value during the last 24 hours is down by 2.9% at about 97 ETH that values for about $191K.
ALSO READ – Another from the crypto market bites the dust; SLP touches zero
CryptoPunks NFT floor at the moment has lost its value up to 7% and the floor value has seen a drop where the least expensive NFT of CryptoPunk is valued at about 48.85 ETH or $96K. Moonbirds NFTs have also seen the similar fate which is down by about 10.9% during the 24 hours and the floor value is about 21.5 ETH which equates to $42K.
Seven days earlier, NFT sales volume was recorded at about $1.7 billion and the volume this week is down to about $631.5 million. One of the prominent NFT collections, Azuki, took the topmost sales during this week having sales of about $102 million in volume which is a 208.55% increase since the sales in the last week. Statistics during the last 24 hours show that the floor value of Azuki was 14.16 ETH during this weekend which is lower than 0.3% the day earlier.
Source: https://www.thecoinrepublic.com/2022/05/15/is-crypto-market-revival-breaking-the-pace-of-blue-chip-nfts/