The Bored Ape Yacht Club (BAYC) has been losing its dominance in the NFT market and experiencing a decline in performance over the past three months. Other collections, such as the Bitcoin-based Ordinal NFTs, have surpassed BAYC in terms of trade volume, marking a shift in the hierarchy. However, BAYC still holds the top position in terms of 30-day sales volume and ranks second in all-time sales behind Axie Infinity. Cryptopunks, with its impressive all-time sales volume of $2.18 billion, is rapidly closing in on BAYC’s figures. BAYC collectors have faced difficulties as the collection’s floor value has decreased from 64.2 ether to 37 ether. Cryptopunks currently has the largest floor value of 49 ether. The reasons for BAYC’s decline remain unclear, but new collections, including those derived from Bitcoin, have been gaining traction in the market. Google Trends data shows a significant decrease in global interest in the Bored Ape Yacht Club over the past year, with China, Singapore, Hong Kong, Myanmar, and New Zealand showing the most interest.
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