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HomeBitcoin NewsOpenSea NFT trading volume surges as Bored Ape mania intensifies

OpenSea NFT trading volume surges as Bored Ape mania intensifies


OpenSea NFT trading volume surges as Bored Ape mania heightens

NFT trading volumes on OpenSea are rising in January amidst a restored speculative craze on Yuga Labs’ Bored Ape Private Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC).

According to data published by “rchen8” on Dune Analytics, OpenSea has created more than $700 million worth of trading volume because the start of 2022, with Jan. 3 being the most significant day of the year with a tremendous $255.8 million worth of 24-hour volume.While popular

onlookers as Wu Blockchain have asserted that the volume on Jan. 3 was a record high for OpenSea, previous information published by rchen8 on Dune Analytics reveals that Aug. 29 saw the all-time high (ATH) of $322 million.

In December, OpenSea’s regular monthly volume topped $3.24 billion and fell simply 5.3% short of the platform’s ATH in August of $3.42 billion. With the NFT market already performing more than $700 million worth of trading volume within the very first four days of January, the record highs might soon be broken if the momentum continues throughout this month.

Bored Ape mania

A factor that might be adding to OpenSea’s rising volumes, is the recent mania surrounding the BAYC and MAYC NFTs in addition to a basket of other projects from Yuga Labs.

Data from CryptoSlam reveals that the MAYC is presently the top-ranked NFT job in regards to seven-day volume on secondary markets at $93.2 million, with the BAYC NFTs following carefully behind at second with $88.4 million.

Related: Bored Ape Luxury yacht Club NFTs reach CryptoPunks, turns flooring cost

Over the past thirty days, the MAYC and BAYC jobs have created $189.7 million and $182.6 million each, making them the third and fourth greatest ranked NFT collections at the time of composing.

In terms of 24-hour volume, MAYC has gathered $18.7 million worth of secondary volume, while the BAYC has actually produced $14 million. According to OpenSea, the existing floor price for BAYC NFTs is a substantial 67 Ether (ETH) worth approximately $250,000, while the MAYC NFTs are currently opting for 15.87 ETH, or $59,300.

In January so far, numerous Pop-culture icons such as rapper Eminem, musician Britney Spears, and comic Dave Chappelle all apparently purchasing BAYC NFTs for six-figure amounts this month.

06:05:59 +0000


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