BAYC recovered the top rank on OpenSea this week

Last week, a rise in trade volume allowed GODA Mint Pass and WAGDIE to pass BAYC. However, despite halving in price, BAYC recovered the top rank on OpenSea this week.

Fall of BAYC

According to reports, the price floor of the Bored Ape Yacht Club (BAYC) has dropped by 53% from its all-time high in May.

On May 1, a buyer might expect to spend at least 153.582 ETH ($430,000 at the time) for a BAYC NFT. Since then, various events, notably the Terra LUNA/UST implosion, have caused a dramatic negative change in the crypto scene.

All of these factors have had an impact on the pricing of BAYC NFTs. On June 13, a low of 72.503 ETH ($86,000) was reached.

This indicates a 53 percent drop in the price of ETH and, considering the recent drop in the price of cryptocurrencies, a stunning 80 percent drop in the dollar price.

Instead of focusing on his BAYC losses, Twitter user @CryptoDonAlt chose to focus on the good. He acknowledges that he may have wasted 100 ETH. But, if given the chance, he says he would do it all over again.

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Comeback of BAYC

According to CoinMarketCap, the BAYC collection ranks second in terms of all-time volume, after CryptoPunks, with 607,444 ETH.  However, with a market cap of 978,068 ETH, BAYC is the most valuable cryptocurrency.

The number one slot has been reclaimed by the Bored Ape Yacht Club (BAYC). According to reports, BAYC has lost its position as the most popular NFT collection on OpenSea in terms of volume.

The most popular Ethereum NFT collection at the time was the GODA Mint Pass, which provides future access to traditional artists interested in digital art.

The most popular token the day before, on June 8, was We Are All Going To Die (WAGDIE), a set of 6,666 tokens portraying “pixelated solemn humanoids” dressed in medieval garb.

With over thirteen thousand ETH in volume over the previous seven days, BAYC has re-established itself as the leading NFT collection on OpenSea. 

The volume of the second-placed collection, Mutant Ape Yacht Club, is nearly double that of the third-placed collection. WAGDIE, on the other hand, had a trading volume of 1,631 ETH over the previous week, putting it in 11th place. 

GODA Mint Pass, on the other hand, has a volume of 1,396 ETH, putting it in 13th place.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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