NFTs
Bored Apes and Yuga Ethereum NFTs Experience Decline in Value Despite Market Surge – Here’s the Latest
![Yuga Labs NFT](https://tokentalk.top/wp-content/uploads/2024/05/Bored-Apes-and-Yuga-Ethereum-NFTs-Experience-Decline-in-Value.png)
Last updated: March 12, 2024 1:28 pm EDT | 1 minute reading
Source: BAYC
Bored Ape Yacht Club (BAYC) NFTs were once the most popular digital property on the Ethereum NFT market, but now Yuga Labs Signature Collection and other affiliated NFTs are recording new lows.
The current minimum price of BAYC, which indicates the lowest price you can buy it for, is around 13 ETH, or $51,000. The last time it reached this low was on August 18, 2021, when it traded for 13.65 ETH, according to data by CoinGecko.
This means that today BAYC is a whopping 91.3% off its all-time low price of 153.7 ETH posted on May 1, 2022.
Likewise, Yuga Labs’ spin-off collection Mutant Ape Yacht Club (MAYC) is currently posting an all-time low price of 2.18 ETH.
Another BAYC-themed collection, Otherdeeds, is trading at an all-time low price of 0.19 ETH. Otherdeeds represent property deeds for digital land sales in the Bored Ape Otherside metaverse game.
When Otherdeeds launched in May 2022, it cost 305 ApeCoin to mint one. At the time, that was almost $6,000. It’s true that Ethereum has risen 50% since then, but even considering that, Otherdeed’s today’s low price is equal to just $746.
Move to Ethereum! Ordinals are advancing
Ethereum NFTs like Bored Ape Yacht Club managed to monopolize the entire market during the 2021 crypto bull run. That’s because virtually everything was on Ethereum.
We now have interesting alternative NFT marketplaces on Solana and Cardano, but none of Ethereum’s NFT competitors surpass its oldest rival: Bitcoin.
The Ordinals protocol allows data to be written to individual satoshis. Satoshis are the lowest units of Bitcoin, like cents per dollar. This feature gives the network some additional functionality and allows users of the network the ease of minting Bitcoin non-fungible and fungible tokens and building dapps.
In early March 2024, Ordinals NFTs were published US$168.5 million in sales over a seven-day period. They beat Ethereum NFTs, which registered $162 million in the same period.
Miners may also need to rely on Ordinals to cover a potential shortfall following the Bitcoin halving on April 19, when their block rewards will be cut in half.
Bitcoin rewards will continue to halve every four years, so miners will need to generate revenue from Ordinal transaction fees. Ordinal activity currently represents about 20% miners’ income.
NFTs
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NFTs
AI-Powered Discovery Network for NFTs Launches $PULSR Token – Press Release Bitcoin News
![AI-Powered Discovery Network for NFTs Launches $PULSR Token – Press Release Bitcoin News](https://tokentalk.top/wp-content/uploads/2024/04/AI-Powered-Discovery-Network-for-NFTs-Launches-PULSR-Token-–-Press.jpg)
https://news.google.com/./articles/CBMiVGh0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS9haS1wb3dlcmVkLWRpc2NvdmVyeS1uZXR3b3JrLWZvci1uZnRzLWxhdW5jaGVzLXB1bHNyLXRva2VuL9IBAA?hl= en -US&gl=US&ceid=US%3Aen
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NFTs
Solana Monkey Business Leads NFT Sales with $875,91K
![Solana Monkey Business Leads NFT Sales with $875,91K](https://tokentalk.top/wp-content/uploads/2024/07/1722041110_Solana-Monkey-Business-Leads-NFT-Sales-with-87591K.png)
Image: AI-generated via Midjourney
Solana Monkey Business topped CryptoSlam’s non-fungible token (NFT) sales charts on July 22 with $875,914 in total sales.
The collection had 122 unique buyers, equaling the number of sellers, and an average price of $5,308 per NFT.
This increase in daily sales boosted the SMB’s all-time sales volume to a new record of $212.48 million.
The Solana-based ape-themed collection entered the list of the top 30 NFT sellers of all time over the weekend, knocking SATS BRC-20 NFTs off the rankings.
The second best performing collection of the day was gETH Locked Deposit.
This NFT, which represents gETH locked on the Ethereum layer-2 network Arbitrum, saw a daily sales volume of $583,047 from just one transfer.
The asset was brother-in-law just moments before the transfer is made.
In third place, DMarket’s NFTs and in-game virtual items on the Mythos Network saw a total of $565,002 in sales.
The collection attracted 3,254 unique buyers and 2,848 sellers, with an average price of $24.66 per item. Active DMarket owners stood at 5,111, contributing to a total owner count of 397,931.
Outside of the top three, Ethereum’s DogeZuki Collection came in fourth place with $436,787. Bored Ape Yacht Club, another Ethereum collection, had total sales of $341,576 for fifth place.
While a Solana collection led the day’s results, the network’s total NFT sales for the day were slightly outpaced by Ethereum.
Ethereum led all blockchains in sales on Monday with $4.2 million, with Solana close behind at $4.1 million.
NFTs
ArcadeXYZ Secures $450,000 in Ringers NFTs
![ArcadeXYZ Secures $450,000 in Ringers NFTs](https://tokentalk.top/wp-content/uploads/2024/07/ArcadeXYZ-Secures-450000-in-Ringers-NFTs.png)
NFT lending remains strong despite the overall downward trend in prices.
Arcade.XYZ, a non-fungible token (NFT)-based lending protocol, secured $450,000 worth of NFTs from Dmitri Cherniak’s Ringers collection on July 24.
The loan is structured with a principal of $16,000 per NFT, and the current highest bid on the Ringers collection on Opensea is 8 wETH, equivalent to approximately $26,000.
The big loan comes at a time when darlings of the generative art scene like Ringers and Fidenzas continue to see their floor prices drop. Bells It is Fidenzas both have surpassed the 2021 minimum price of 100 ETH and are now at just 17 ETH and 32 ETH.
Collateralized Ringers – Arcade.xyz
Despite the slowdown in sentiment and prices around NFTs, the lending market continues to process consistent volume.
Some of the largest platforms, Blend, Gondi, NFTfi, and Arcade process over $80 million in outstanding debt combined. The NFT lending market broke volume records in Q1 2024, surpassing $2 billion in total volume.
Q1’s extraordinary lending volumes can be attributed to Blend’s Blast airdrop incentive and the rise of Ordinals loan in the Arcade.
The largest NFT loan belongs to CryptoPunk 8219 by NFT collector Gmoney, which was guaranteed for $1 million in Gondi XYZ, and holds a current principal of $700,000. A far cry from the claims made in the mainstream media that “Your NFTs are actually, finally, totally worthless.”
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