- The NFT market has seen a 34.70% decrease in sales volume.
- Bored Ape Yacht Club NFTs have a market capitalization of 245,183 ETH.
- CryptoPunks NFT collection has a market capitalization of 500,046 ETH.
In the extended cryptocurrency bear market, there has been a significant downturn in the NFT market since the previous year. The worth of NFT collections has decreased, and enthusiasm in the ecosystem has similarly fluctuated.
CryptoSlam data reveals a 34.70% decrease in NFT market sales volume over the previous 30 days. Despite an increase in the number of NFT sellers, there was a 24.90% decline in the number of NFT buyers during the same timeframe.
In anticipation of the forthcoming bull market, these are the leading NFT collections that have the potential to endure in the future.
Bored Ape Yacht Club (BAYC)
The Bored Ape Yacht Club is a collection of NFTs built on the Ethereum blockchain, initiated by Yuga Labs, a company specializing in NFT development. The collection consists of 10,000 NFTs, with BAYC owners receiving unique advantages, privileges, and preferential access to future Yuga Labs initiatives. According to data from CoinMarketCap, BAYC has seen a trading volume of 1,246 ETH in the last 24 hours and boasts a market capitalization of 245,183 ETH.
Mutant Ape Yacht Club (MAYC)
The Mutant Ape Yacht Club represents a collection of 20,000 NFTs that showcase ape-themed avatars. This project is a derivative of the BAYC and provides a more affordable alternative for collectors aiming to join the Yuga Labs ecosystem. Over the last 24 hours, the collection has registered 409.62 ETH in transactions and boasts an approximate market capitalization of 94,320 ETH.
CryptoPunks
CryptoPunks is a premier NFT and was among the pioneers that ignited the NFT craze. NFTs in this collection have garnered sales in the six-figure range and are viewed as a secure asset. Despite the current slump in the NFT market, the collection has experienced a 150% surge in its 24-hour trading volume as of the latest reports. CryptoPunks boasts a market capitalization of 500,046 ETH.
Dreadfulz
Dreadfulz is an NFT collection of 7,777 pieces constructed on the Ethereum blockchain. Even in a bear market, it stands out as one of the few collections that have seen a substantial price increase, as per CoinMarketCap data. The collection’s estimated cap stands at 76.21 ETH.
DeGods
DeGods is a collection of 10,000 NFTs built on the Ethereum blockchain. These NFTs are profile picture-style, each with unique attributes generated through an algorithm. The total market capitalization of this collection stands at 29,233 ETH.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
