Cryptopunks and BAYC floor values ​​go head-to-head, as punks briefly outpace bored monkeys – News Bitcoin News

On Sunday, August 21, 2022, the floor value of Cryptopunk’s non-fungible token (NFT) pool briefly exceeded the floor value of the Bored Ape Yacht Club (BAYC) NFT pool. Although not a huge amount, Cryptopunks floor at the time was 66.45 Ether, while BAYC’s cheapest NFT was 64.99 Ether.

Cryptopunks fleetingly reclaims the throne it held last year by flipping BAYC’s floor value

Non-fungible token (NFT) sales are not doing so well this week as sales are down 18.75% lower than the week before sales volume, according to cryptoslam.io statistics. Bored Ape Yacht Club (BAYC) has the top sales this week with $15,087,189 million in sales, up 61.47% from last week.

👀 pic.twitter.com/NOprcn7Vja

— Nick Tomaino (@NTmoney) 20 August 2022

While Cryptopunks is the sixth largest collection in terms of this week’s NFT sales with $4,517,133 in sales this week, sales are down 52.38% from the previous week. Despite the lower number of sales in the last week, Cryptopunks card has managed to turn BAYC in terms of floor value.

On 21 August, at At 1:45 PM (EST), Cryptopunk’s base value was 66.45 ETH or $107,866. BAYC’s floor value dropped to 64.99 ETH or $105,623 at that time. The head-to-head action has been going on for most of the day and later in the afternoon BAYC managed to regain the top floor.

NFT floor values ​​are much different than they were 26 days ago on July 26, 2022. At that time, BAYC had the peak floor value at 82 ether, as it was the cheapest BAYC that day. Cryptopunk’s NFTs were in second place that day, as the floor value was 73.95 ETH on July 26. In fact, statistics from archive.org show that BAYC has maintained its value in the top floor week after week for several months.

Today’s head-to-head competition follows Yuga Labs releasing Cryptopunk’s and Meebit’s intellectual property rights last week. The new licenses allow Cryptopunks and Meebits owners to use their NFTs for commercial or personal purposes. The company’s BAYC NFTs also have a license for NFT holders, but Galaxy Digital research claims that the license covering BAYC, MAYC and BAKC NFTs contains critical contradictions.

While Cryptopunks temporarily reversed BAYC’s floor value on August 21, the opposite happened on December 22, 2021. At that time, the lowest BAYC was 53.9 ETH while the lowest valued Cryptopunk was 52.69 ETH. However, after BAYC flipped Cryptopunks at the end of last year, it has maintained its dominance in terms of being the top floor value. Except on a few occasions, the NFT collection PROOF Collective has briefly turned heads at BAYC.

After the brief reversal early Sunday afternoon, BAYC managed to regain the top position and by 16:00 pm (EST), BAYC’s floor was 68.48 ETH, while Cryptopunk’s floor was 66.45 ETH. While BAYC’s market cap at the time of writing is $1.11 billion, Cryptopunk’s market cap is now approximately $1.07 billion. At 17:30, BAYC’s floor was 68.48 ETH and Cryptopunk’s floor was 66.45 ETH.

What do you think about Cryptopunks short flipping BAYC’s floor value on August 21, 2022? Do you think the head-to-head action will last long? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.