• BAYC holders have been profitable in the last few months due to an increase in demand for NFTs.
• The TVL collected by staking BAYC also increased, indicating a positive sign for the network’s growth and adoption.
• Sales for BAYC surged by 140%, and the average price for MAYC grew by 14.30%, reflecting the increased interest from the crypto space.
The crypto space has seen a surge of interest in Non-Fungible Token (NFT) collections in recent months, and holders of the Bored Ape Yacht Club (BAYC) have been among those experiencing the most success. BAYC has seen a steady rise in demand for its NFTs, leading to a growing profitability for holders, and the asset has now taken up less than 50% of the total value of all the NFTs and coins each BAYC has received since minting.
The network growth of BAYC has been impressive, as trustless value locked (TVL) collected by staking the asset has increased according to data from Dune Analytics. This is a promising sign for the network’s growth and adoption, although the annual percentage yield (APY) generated by staking has declined materially, which could be cause for concern for investors.
In addition, sales for BAYC have surged by 140% over the last 24 hours, according to Dapp Radar. This is a positive sign for the future of the NFT collection and its profitability, and the average price for the Mutant Ape Yacht Club (MAYC) has also grown along with the number of holders. This indicates a high level of interest and demand for BAYC and related assets, as data from NFTGO shows that the price for MAYC has grown by 14.30% in the last month.
Overall, the BAYC NFT collection appears to have been a successful investment for holders, with the asset outperforming many others in the crypto space despite the turbulence of the markets. With the increased interest and demand for BAYC and related assets, it appears that the NFT collection is in a strong position to benefit from continued growth in the coming months.