Bored Apes floor price holds despite massive NFT dump
23 February 2023 13:12, UTC
Studying time: ~2 m
On Tuesday, net 3.0 firm CanaryLabs.XYZ bought 71 items from the Bored Ape Yacht Membership and Mutant Apes collections, raking in a complete of as much as 5,500 ETH or $9 million.
Surprisingly, the unusually giant dump, which got here after allegations that Yuga Labs plagiarised its logos, didn’t transfer the ground value in any respect. On the time of writing, Bored Ape Yacht Membership’s (BAYC) 24-hour buying and selling quantity stands at round 13,723 ETH.
BAYC, owned by Yuga Labs, is thus far the second most traded NFT assortment after CryptoPunks with a complete buying and selling quantity of 864,801 ETH.
Regardless of the latest crypto bear market, BAYC held its ground value above the 64 ETH mark and right this moment sits at round 77 ETH. Nevertheless, that is nonetheless a way under the ground value of 152 ETH in April final 12 months.
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Allegations that BAYC has been influenced by fascist sources didn’t ruffle many feathers, both. Certainly, not like many competing NFT initiatives which have gone to zero or are down 99% from their highs, Bored Apes and different Yuga Labs collections are holding comparatively robust.
BAYC was closely promoted by a string of superstars, together with Eminem, Snoop Dogg, Jimmy Fallon, Madonna and even Raul Pal. Nevertheless, it’s nonetheless not clear which of those well-known faces purchased an Ape or received it in change for his or her promotional companies.