Time For The Apes: Mutant Ape Yacht Club And BAYC Sales Surge, Floor Prices Spike More Than 40%

Anifowoshe Ibrahim

Last Updated: January 3, 2022 10:25 am

3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Both BAYC and Mutant Ape Yacht Club (MAYC) NFT sales have risen since Eminem disclosed that he purchased a Bored Ape Yacht Club (BAYC) non-fungible token (NFT) for $452K.

Time For The Mutant Apes To Eat

Last week, Mutant Ape Yacht Club topped other NFTs with a massive increase in sales volume. The initiative, which began at Bored Ape Yacht Club, saw two serum sales of more than $3.5 million each, helping Bored Ape Chemistry Club to make the top ten list.

The Mutant Ape Yacht Club floor price has continued to grow, and additional serum sales could keep the NFT collection in the spotlight. MAYC’s seven-day trade volume of $93.02 million was up 93.41 percent on Sunday, January 2, 2022, according to metrics, while BAYC’s weekly volume of $78.26 million was up 150.97 percent.

BAYC has witnessed $78.26 million in seven-day volume from 434 dealers, according to statistics. While BAYC volume has increased by 150.97 percent, the number of dealers has increased by 101.86 percent, despite the fact that BAYC sales have increased by 122.95 percent.

Over the last week, the MAYC project has seen a nearly 500 percent spike in trading volume. The average sale price of a Mutant Ape NFT has risen from around 8 ETH (over $32,000) on December 21 to over 12.3 ETH (around $50,250) yesterday. The project’s price floor—or the cost of the cheapest-available NFT—has grown by about 40% in the last seven days, reaching 9.9 ETH as of this writing.

The Mutant Ape Yacht Club is an Ethereum NFT project with a total avatar image count of up to 20,000.

Despite rise in NFT sales, ETH/USD price plunges. Source: TradingView

Yuga Labs And Their Mutant Apes Sales

In August, Yuga Labs sold 10,000 Mutant Ape Yacht Club NFTs, producing $96 million in ETH in less than an hour. At the same time, the developers gave each of the 10,000 current Bored Ape Yacht Club NFT holders a free Mutant Serum NFT, allowing them to produce a new Mutant Ape NFT image that looked like it had mutated from their original owned figure.

BAYC’s overall market value is currently $2.73 billion, according to all-time metrics. The floor price of a single BAYC in ETH is roughly $273,420 at the time of writing, however the average price today is $287,740 per BAYC.

While BAYC has seen a significant increase, the Mutant Ape Yacht Club (MAYC) NFT collection had the most volume this week. Today’s MAYC volume is $93.02 million, up 93.41 percent. This week, there were 2,234 MAYC dealers, and while an individual MAYC’s floor price is $59,180 per NFT, MAYCs are selling on average for $54,270.

According to DappRadar, the NFT market has exploded in 2021, with almost $10.7 billion in trade activity in Q3 and an estimated $22 billion year-to-date as of earlier this month.

Featured image from Pexels, chart from TradingView.com

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.