CryptoPunks, BAYC, MAYC, Azuki- Is price the antithesis of sales volume

According to data from CoinGecko, the NFT projects (CryptoPunks, Bored Ape Yacht Club, Mutant Ape Yacht Club, Azuki, and Doodles) which make up the top five projects by all-time volume on OpenSea, have all suffered a decline in their floor price in the last 24 hours.

Falling below its $1 trillion mark, data from CoinMarketCap showed that the global cryptocurrency market capitalization recorded a 9.54% decline in the last 24 hours causing it to be pegged at $937.61 billion. As Bitcoin and Ethereum record losses, blue-chip NFTs collections are not spared from the brunt.

Let’s take a look at the performance of these five projects in light of the ongoing turmoil within the general cryptocurrency ecosystem.

Price floor is all the way down

According to data from CoinGecko, the last 24 hours have been marked with some declines for Cryptopunks. At a floor price of 47.0 ETH at press time, a 17.6% decline has been registered in the last 24 hours. The NFT project also lodged a 17% drop in its market capitalization to be pegged at $574,742,342.57 at the time of writing. 

Source: CoinGecko

Also, registering a decline in the last 24 hours is the Bored Ape Yacht Club Project (BAYC). At a floor price of 75.0 ETH valued at $92,142.22, the project saw a 24.6% decline in the last 24 hours. With a 23.4% decline in market capitalization within the same window period, this was spotted at $921,422,207.80 at the time of press. 

Source: CoinGecko

Apart from BAYC, another Yuga Labs project that suffered a drop in floor price in the last 24 hours was the Mutant Ape Yacht Club (MAYC). At 14.899999 ETH, a 23.7% drop was registered. The market capitalization also saw a 23.5% drop within the same window period and marked a spot at the $354,097,307.71 position.

Source: CoinGecko

Furthermore, the infamous Azuki project registered a 12.4%  decline in its market price in the last 24 hours. At the time of writing, the floor price was 9.25 ETH. With a 12.5% drop in market capitalization within the same window period, it maintained a position at $113,103,720.75 at press time.

Source: CoinGecko

In addition, Doodles saw a 23.1% drop in its floor price causing it to be pegged at 9.0 ETH at press time. Also down by 23%, the market capitalization was $109,599,252.03 at the time of writing.

Source: CoinGecko

Buyers are filling up their carts

Investors and buyers alike within the space were spotted taking advantage of the bear market to ramp up the purchase of these blue-chip projects in the last 24 hours.

According to data from Cryptoslam, BAYC noted a 159% uptick in sales volume in the last 24 hours. It saw a total sales of $6,681,500. Trailing behind was the MAYC which saw a 108.65% growth in sales volume in the last 24 hours. With a total of 157 transactions completed within the last 24 hours, sales totaling $3,225,875 have been recorded.

Ranked third according to CryptoSlam’s NFT collection rankings by sales volume in the last 24 hours, Cryptopunk also registered a 91.02% uptrend. It has recorded a sales volume of $2,600,857 in the last 24 hours. 

Source: CryptoSlam

With a total of 105 transactions executed in the last 24 hours, 92 NFT degens were also spotted to have picked up some Doodles NFTs. The project recorded a 155.98% growth in sales volume in the last 24 hours. With a sales volume of $1,130,036, Azuki followed closely.

Source: CryptoSlam