BAYC, CryptoPunks holders may not be happy to read this NFT report

by James · August 25, 2022

Ethereum [ETH]-based NFT collection, Azuki was subject to a 311% increase in sales volume in the last 24 hours.

In accordance CryptoSlam, around $703,760 changed hands between buyers and sellers within the aforementioned period. Interestingly, Azuki wasn’t the only collection involved, as a Solana [SOL] NFT collection joined the party.

DeGods, the SOL host collection, recorded a 334.84% increase in volume, worth $659,308. Despite the incredible rallies of these NFTs, they could not match the volume of Bored Ape Yacht Club [BAYC].

At press time, data from CryptoSlam showed BAYC’s sales volume at $2.07 million, an increase of 34.82%.

The punks

While BAYC remained at the top of the rankings, the same cannot be said for Larva Lab’s studio-created collection, CryptoPunks.

The rise of Azuki and DeGods has led to CryptoPunks loses its place.

After being on top for a few weeks, Crypto Punks now ranks eighth in the NFT table. Unfortunately, the collection only recorded a volume of $464,908 in sales, although that was an improvement from the August 24 numbers.

Source: CryptoSlam

The NFT market does not seem to be out of the bear state of ups and downs. For the Ethereum collections, the total 24-hour shift was 14.88% decline. In addition, there have been 13,411 buyers and 24,964 transactions across the entire chain.

At the same time, Solana collections seem to be in much more control with an increase of 95.97%, worth $885,924. There have also been 14,370 transactions via Solana NFTs, with 1,981 traders buying the assets.

Source: CryptoSlam

100 million dollar exploitation?

While the NFT market remains in a state of despair, a recent report highlighted exploits in the ecosystem recently. The report by Elliptic, the blockchain-enabled compliance platform, provided details of the exploits that occurred over the past twelve months.

According to the details, over $100 million worth of NFTs have been stolen between July 2021 and July 2022.

Source: Elliptical

Elliptic pointed out that the Ronin bridge hack did the most damage. In addition, the report noted that CryptoPunks fell victim to one of the companies when Crypto Punk #4324 worth $490,000 was stolen in November 2021.

BAYC was also not left out of the fray as stolen NFTs of the collections amounted to $43.6 million. In light of the revelation, it might seem that social media was the most targeted.

Elliptic said social media platforms accounted for 23% of exploits with hacks coming from Discord servers. Going forward, investors will just hope that the hacks slow down and the NFT market favors the bulls.