Fragile market sentiment
On Could 1, the minimal worth a purchaser might anticipate to pay for a BAYC NFT was 153.582 ETH ($430,000 on the time). Since then, the crypto panorama has undergone a noticeable bearish shift resulting from a number of occasions, together with the Terra LUNA/UST implosion.
All of which have taken a toll on the worth of BAYC NFTs. A backside worth of 72.503 ETH ($86,000) was hit on June 13. This represents a 53% lower within the ETH worth and, given the falling worth of cryptocurrencies the previous few weeks, a staggering 80% down within the greenback worth.
Twitter consumer @CryptoDonAlt remained upbeat on his BAYC losses, selecting, as a substitute, to deal with the optimistic. He accepts he might have wasted 100 ETH. However given an opportunity to do it once more, he emphatically declares he would.
Is there a superb probability I simply wasted 100 ETH on a JPG?
Did it make me smile?
Did it make another folks have enjoyable on a shit day?
Completely value, would do once more.
The duck can be again in due time, no worries.
Till then we ape.
— DonAlt (@CryptoDonAlt) June 15, 2022
In line with CoinMarketCap, the BAYC assortment ranks second, to CryptoPunks, when it comes to all-time quantity at 607,444 ETH. However BAYC ranks primary for the estimated market cap, at 978,068 ETH.
Bored Ape Yacht Membership (BAYC) reclaims the primary spot
Final week, CryptoSlate reported that BAYC had misplaced its place because the main NFT assortment on OpenSea by quantity.
On the time, the GODA Mint Go assortment, which presents future entry to conventional artists seeking to get into digital artwork, was essentially the most traded Ethereum NFT assortment.
The day earlier than, on June 8, essentially the most traded was We Are All Going To Die (WAGDIE), a set of 6,666 tokens depicting “pixelated solemn humanoids” sporting medieval-themed apparel.
Since then, BAYC has re-established itself because the main NFT assortment on OpenSea, with over 13 thousand ETH in quantity over the past seven days. Virtually twice the amount of the subsequent positioned assortment, Mutant Ape Yacht Membership.
In the meantime, WAGDIE has a buying and selling quantity of 1,631 ETH over the past week, rating it eleventh. Whereas GODA Mint Go has 1,396 ETH in quantity, rating it thirteenth.