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In May, the Sale Prices of the BAYC Dropped by 60%

After the NFTs suffered a sharp drop in their average sales price in May, Bored Ape Yacht Club took a backseat in terms of value.

May was a difficult month for the entire crypto finance industry, particularly non-fungible coins. BAYC concluded May with a trading price of $152,658 according to a Be[In]Crypto report.

Although this figure appears high when compared to other NFTs like NBA Top Shot, Otherdeed, The Sandbox, Azuki, Art Blocks, and its sibling project, the Mutant Ape Yacht Club (MAYC), BAYC average values have dropped by 60% since May 1. BAYC NFTs were trading for an average price of $382,894 on that day.

The crypto market slump that lasted into May sparked a drop in investor interest in NFTs, which explains why the value of Bored Ape Yacht Club NFTs has plummeted.

In May 2022, BAYC NFTs had a total sales volume of roughly $214.91 million.

Despite an increase in unique purchasers (591) from 475 in April 2022, which resulted in an increase in total transaction counts (982), average sales values fell.

The average sales value for the month of May at Bored Ape Yacht Club was $218,850. This was $89,666 less than April’s average sales value of $308,517, $35,324 less than March’s average sales value of $254,175, $55,812 less than February’s average sales value of $274,663, and $50,202 less than January 2022’s average sales value of $269,053.

APE began trading on May 1, 2022, at a price of $20.02. The token fell to a monthly low of $5.25 before rising to $6.76 at the end of the month. Between the opening and closing prices of APE in May, there was a 66% decline.

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