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NFT from Bored Ape Yacht Club continue to decline in price. BAYC’s sales continued to fall in May. The average selling price of one NFT Bored Ape Yacht Club last month dropped below $200,000.
May turned out to be a difficult month for the entire cryptocurrency market and especially for non-fungible tokens (NFT). Trading NFT BAYC ended in May at a price of $ 152,658.
While this amount still exceeds the NFT value of projects such as NBA Top Shot, Otherdeed, The Sandbox, Azuki, Art Blocks and the sister project Mutant Ape Yacht Club (MAYC), the average cost of BAYC fell by 60% compared to early May, when the average price of BAYC NFT was at $382,894.
Reasons for the NFT BAYC price reduction
The cryptocurrency crash that occurred in May led to a decrease in investor interest in the NFT and largely caused the fall in the value of the NFT Bored Ape Yacht Club. BAYC NFT’s combined sales in May 2022 were approximately $215 million.
Despite the fact that in May the number of unique buyers increased to 591 from 475 in April, and thanks to this the number of transactions from NFT BAYC to 982 increased, the average NFT sales check decreased.
The average check of the transaction for the sale of NFT Bored Ape Yacht Club in May was $ 218,850. That figure was $89,666 below the average April deal value of $308,517. In March, the average value of the transaction was $ 254,175, in February – $ 274,663, and in January $ 269,053.
Dynamics of ApecCoin (APE)
Early May APE traded at $20. The minimum price of the token in May reached the level of $ 5.25, and the month ended at $ 6.76, which is 66% lower than in early May.
Author: Elvir, Analyst at Freedman Club Crypto News
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