Is OpenSea-BAYC Connect the latest to rock the NFT market? These data suggest…

• New data suggests a correlation between BAYC floor prices and OpenSea volume
• Despite the decline from the peak, major crypto pools (BAYC,MAYC,CryptoPunks) performed well

The BAYC NFT collection continued to retain its top spot in the NFT space despite the volatility facing the crypto market. The impact of the Bored Ape Yacht Club (BAYC) NFT Collection was indicated by Delphi Digitals last tweet. The tweet also suggested a connection between BAYC and OpenSea.

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According to the data, floor prices for BAYC peaked around the same time as total OpenSea’s daily trading volume. After reaching the peak, the floor price on BAYC fell, and trading volume on OpenSea followed suit.

This development suggested that BAYC and other NFT gatherings associated with it such as Mutant Ape Yacht Club (MAYC) and CryptoPunks continued to play a key role in generating volume and interest in NFT marketplaces.

Source: Delphi Digital

Of boring monkeys and more…

After reaching the peak, floor prices for BAYC fell significantly. During the last month, the average floor price for a BAYC NFT was 67.25 ETH. The floor price did not witness large fluctuations during this period, but BAYC observed an increase in whale sales towards the end of the month.

Although whales showed interest in BAYC NFT, volume and sales fell by -7.51% and -36.61% respectively in the last seven days according to DappRadar.

Source: NFTGO

How do Mutant Apes and Punks cope?

NFT pools like MAYC and CryptoPunks managed to do well in this area. The CryptoPunks collection’s volume increased significantly over the past few days, as can be seen in the chart below. In addition, the number of transactions made with NFT has increased by 36.63% in the last 7 days.

In the same duration, the MAYC pool witnessed an increase in volume and traders, according to DappRadar. Volume increased by 11.18% and the number of traders increased by 9.01%.

Source: Dapp Radar

All the attention that the NFTs generate can positively affect ApeCoin and vice versa.

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From data collected by Santiment, it was observed that the number of daily active addresses for MONKEY increased significantly in the last month. Along with that, major addresses also started showing interest in the token.

This was indicated by the increase in the percentage of APE held by top addresses. Large addresses went from having 8% to 14% of the total APE supply in the last month. Despite this increase in interest from whales, APE’s price continued to decline.

Source: Sentiment

At the time of writing, APE was trading at $3.58 and the price had fallen by 0.76% in the last 24 hours.