Bored Apes keeps the market awake: BAYC tops April sales count despite price drop

• BAYC saw its sales figure jump in April, despite a drop in the floor price.
• The quarter has been characterized by a decline in MAYC’s sales volume and market value.

While blue-chip NFT sales fell 12.2% in April, NFT project Bored Ape Yacht Club led [BAYC] saw the rise in sales during that period, data from The Block Pro revealed.

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Total blue-chip NFT sales fell from 19.9k to 17.5k, down 12.2% MoM. Bored Ape Yacht Club (BAYC) was the only collection to see an increase in sales throughout April. pic.twitter.com/bvNpWn2o2k

— The Block Pro (@TheBlockPro__) 15 May 2023

Per data from NFTgo, the Blue Chip NFT index has declined since the year began. The Blue Chip Index is calculated by weighting the market capitalization of Blue Chip NFT collections to determine their performance. At 7,616 ETH at press time, it has fallen 18% since January 1st.

Falling floor price, but increasing sales count

According to data from CryptoSlam, with 444 sales transactions completed in April, BAYC recorded a sales volume of $43.83 million. This represented a 32% growth from the 336 transactions completed in March and a 16% increase from the $37.68 million recorded in sales volume in March.

Despite a jump in sales volume and sales figures in April, BAYC’s floor price fell 21% over the 30-day period, according to NFT Price Floor data. At an average price of 46 ETH at press time, the collection’s price floor decreased by 14% in the past month.

Source: NFT Price Floor

After a temporary increase in interest in profile picture NFTs in the 1st quarter, the 2nd quarter was plagued by a decline in interest in this digital asset class. The general market’s sales volume has fallen by 54% over the past 45. Similarly, the NFT market cap has fallen by 14% over the same period.

Source: NFTGo

As for BAYC, while its sales volume grew in April on a month-over-month (MoM) basis, it has declined by 26% so far in the quarter. Moreso, the collection’s market value has also decreased by 28% in the same period.

Source: NFTGo

MAYC fared no better

Mutant Ape Yacht Club [MAYC], an NFT offshoot pool of BAYC, has underperformed in Q2. With $131.05 million registered in the last 45 days, the collection’s sales volume has fallen by 32%. The market value has also fallen by 26% in the same period.

In addition, the floor price of the collection has also decreased. According to NFTGo, this has fallen by 26% since the beginning of April. Moreso, at an average price of 11.3 ETH at press time, the value of a MAYC NFT has decreased by 24% since April 1st.

Source: NFTGo