Sale price of the NFT Bored Ape Yacht Club (BAYC) decreased by 60% in May

BAYC – The Bored Ape Yacht Club collection fell in value in May after the average selling price of the NFTs in the project both plummeted.

May continues to be a difficult month for the entire crypto-finance space, especially the NFT irreplaceable token array. BAYC ended May with a trading price of $152,658.

Although this number seems high compared to the prices of other NFTs such as NBA Top Shot, Otherdeed, The Sandbox, Azuki, Art Blocks, and its sister project, Mutant Ape Yacht Club (MAYC), however, the average value of BAYC has fallen by 60% since May 1. At that time, BAYC NFT was traded at an average price of $382.894.

WHAT CAUSED THE BAYC PRICE TO DROP?

The prolonged collapse of the cryptocurrency market in May caused the level of investor interest in NFT to drop significantly. This is the leading cause primarily responsible for the devaluation of the NFT Bored Ape Yacht Club.

Accordingly, BAYC’s total sales plummeted in May 2022, earning only about $214.91 million.

Although there was an increase in the number of unique buyers (591) compared to 475 in April 2022, resulting in a surge in the total number of transactions (982), the average sales value was reduced.

Specifically, the average sales value of Bored Ape Yacht Club in May was $218,850. This is $89,666 less than in April ($308,517), $35,324 less than in March ($254,175), $55,812 less than in February ($274,663) and $50,202 below the January 2022 average sales value of $269,053.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

CoinCu News

KAI