- 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.
Additionally, the TVL collected by staking BAYC also increased, according to data provided by Dune Analytics. This…