BAYC profits soar as NFT demand rises, but what has holders anxious

  • 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.

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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…

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