Gain knowledge about the health of NFT Markets by shedding light on the Bored Apes Sale

Gain knowledge about the health of NFT Markets by shedding light on the Bored Apes Sale

  • The crypto market is currently witnessing extreme volatility and has also been hit hard from all sides.
  • Although the NFT industry was particularly hard hit.

Non-Fungible claims that recent events have completely destroyed the NFT market. This is serious stuff, so here I am to give you a quick analysis of Bored Ape Yacht Club. Bored Apes and associated collections have largely contributed to the continuous operation of the NFT scene.

Currently, interest in NFTs and transaction volume is not high, although an increase can be expected in the future.

In line with their calculations, trading activity in NFTs fell by 77%; as a consequence, retail sales volume fell, along with after-tax income. According to the recent selloff, the nature of the NFT market has crystallized.

According to the data revealed by DAppRadar, the CryptoPunk and Bored Ape collections have been the most famous in the NFT market recently.

The unknown buyer

An unknown buyer named Keungz paid $928,860 for Bored Ape #232. This mega purchase by Keungz is added to the NFT market’s record sales. NFT was purchased by Keungz of Deepak.eth, CEO of Chain.

Rare Tools kept Keungz’s monkey as #324 in the collection of Bored Apes. The most demonstrable of the differentiating features is the golden coat. Furthermore, Rarity Tools data shows that only 46 monkeys, or 0.46% of the pile, possess this feature.

Although current sales records may not show that the NFT business is looking for a pickup. On November 17, DAppRadar issued a report reviewing the damage that occurred in the already vacant NFT space.

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If we go through the survey, the total trading volume decreased by a whopping 68.6% and at the same time the sales decreased by 24.5%.

However, the market may appear to be extinct to many people, but BAYC and its subordinates’ collections are not letting the market die, and with new collections being released on a daily basis, the NFT crypto scene is a long way off and could potentially bounce, according to NonFungible .

Bored Ape Yacht Club and its affiliate collections are the reason behind the NFT side of cryptocurrency being alive.

Although every part of the NFT market is facing an all-time low, Bored Apes Yacht Club, its subsidiary collections and the decentralized financial gaming industry are creating NFTs that impact investors more.

Last post by Ritika Sharma (see all)

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