Bored Apes Yacht Club’s Weekly Trading Volume Nearly 2x Over CryptoPunks

Avid NFT collectors are not bothered about the bearish trends in the crypto market as they continue to spend lavishly on non-fungible tokens. BAYC remains in the first spot with quite a margin.

• After experiencing a sharp decline in trade volume in December, Bored Ape Yacht Club (BAYC) is back to winning ways.
• The project is behind the Bored Ape NFT collection, and its volume has nearly doubled in the last 30 days.
• BAYC’s volume fell to $177 million on December 20, 2021, before rebounding to $259 million on December 26.
• However, in the last 30 days, the project saw a trading volume as high as $544 million, which is nearly double from its December lows.
• According to NFT sales tracker Nonfungible.com, the Bored Ape collection was also the most traded NFTs in the last seven days. Users sold over 1,100 Bored Apes at a volume of $84 million within the period.
• As such, its trading volume was nearly two times higher than the second-seeded CryptoPunk collection.
• While BAYC had the biggest volume within the past week, Bored Apes were not the most expensive NFTs sold in the same timeframe.
• Nonfungible.com reveals that Decentraland’s Estate #1286 was the most expensive NFT in the last seven days. It was sold for 425,000 MANA, valued at $1.2 million.
• The second, third, and fourth most expensive NFTs sold in the past week were from the CryptoPunk collection (Punks #3783, #7656, and #3049), each selling at $1.15 million, $951k, and $665k, respectively.