From May 1 to May 31, the average value of sold NFTs from the popular Bored Ape Yacht Club (BAYC) collection dropped by 64%.
According to the Nomics portal, on May 1, the average price of non-swappable tokens reached a record high of $ 423,148, but by the end of the month that figure had fallen to $ 153,595. The negative trend continued, so coins paid an average of $144,772 on June 2.
May saw a 28% increase in the number of BAYC sales compared to April’s value. Accordingly, the decline in NFT value was not due to a drop in demand for unique coins. Most likely, the tokens fell in price due to the bearish trend raging in the markets of the leading cryptocurrencies by capitalization level.
Over the past 30 days, BAYC sales reached $155.5 million, and the collection ranked second highest. Otherdeed tokens with $258.5 million in trading volume were in the first place, while NFT Azuki with $129.2 million was in the top three.