January 28, 2023

The NFT community has had intense speculations about falling non-fungible token prices. Most blockchain experts have vastly echoed the social media views concerning the ‘first NFT bear markets.

However, the latest sessions have seen the blue-chip NFT kick-starting a comeback within the non-fungible token market. The BAYC (Bored Ape Yacht Club) has presented massive revival signals within the space.

While publishing this post, the BAYC NFT led the monthly sales volume charts (CryptoSlam data)> the collection gas accumulated more than $54.9M in sales, recording a minor 5.8% sales increase in 30 days.

NFTGo chart shows an impressive uptick in BAYC sales during August trading sessions. The peak volume emerged towards the month’s end (August 25) at $3.8 million.

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BAYC’s buyer count noted a 4.95% surge to 297. Meanwhile, seller count maintained upsides on the charts, accelerating to 299, following a 6.41% surge. The collection’s recent social engagement also reflected the sales increase.

LunarCrush suggested that Bored Ape Yacht Club’s social engagements measured a 77.9 million hourly hit. Surprisingly, that represents the highest mark within the previous three months. Meantime, the collection saw its price gaining 16.37%.

APE-rising

In that context, analytic company Santiment highlighted the surging NFT market. Especially the MAYC (Mutant Ape Yacht Club). The update stated that MAYC experienced a colossal increase in debates on its social volume chart. That came after a renowned NFT trader (@machibigbrother) sold some pieces this month.

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The Blue Chip Index also confirmed the surge in NFT fortunes, with the Blue Chip NFT collections growing by more than 2% within the previous week.

Meanwhile, the cryptocurrency market sees a bloodbath as bears drag prices lower. For instance, the global market cap lost the crucial $1 trillion mark. The index hovered at $984.21 billion at this publication, dropping 1.16% within the past day.

Also, Bitcoin encountered bearishness following its latest revival from the $19K shackles. While publishing this post, the world’s largest crypto traded at $20,193.73, losing 1.15% in the previous 24 hours. Market participants should act with caution when navigating present markets.

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