- BAYC holders were observed to be in profit as demand for the NFT increased.
- APE token price rose, but network growth continued to decline.
In a recent development, it was discovered that holders of the Bored Ape Yacht Club [BAYC] were profitable over the last few months. The NFT asset outperformed many others in the crypto space, despite the turbulence of the industry’s markets.
A Bored Ape is now less than 50% of the total value of all the NFTs and coins each BAYC has received since mint. pic.twitter.com/xWjcDXMchK
— NFTstatistics.eth (@punk9059) January 24, 2023
Realistic or not, here’s APE’s marketcap in BTC’s terms
BAYC to the moon?
Furthermore, it was discovered that BAYC and related assets made up 50% of the overall Ethereum [ETH] NFT volume in the past week. This indicated a high level of interest and demand for BAYC and related assets, which was reflected in the growing profitability of BAYC holders.
Source: NFTstatistics.eth
Additionally, the TVL collected by staking BAYC also increased, according to data provided by Dune Analytics. This…