April 18, 2024

The Blue Chip Index confirmed some improved performance by Blue Chip NFTs, with a 2% uptick within the past seven days. The index comes after weighing the Blue Chip NFTs’ market cap to gauge the performance of the collections.

In that context, let’s assess the performance of the leading Blue Chip NFTs (CryptoPunks and BAYC (Bored Ape Yacht Club) over the week.

BAYC Still King?

Broad market bearishness over the past few weeks saw Bored Ape Yacht Club’s floor price plummeting to 65 $ETH. According to the NFT Floor Price’s data, it was the lowest hit the NFT project explored since 2022 started.

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While publishing this content, BAYC had its floor price at 72.5 ETH, representing a 7% gain within the past seven days.

Bored Ape Yacht Club witnessed a surge in sales volume even with Ethereum losing 7% over the mentioned timeframe. BAYC sales hovered at $13.54 million, indicating an 11.58% growth in a week (NFTGo data).

Nevertheless, the collection could not display market cap growth despite surges in sales volume. The market cap noted a 0.45% drop.

Moreover, BAYC NFTs’ 101 sales transactions happened over seven days. That indicated a 7.45% uptick within the timeframe. Besides sakes, the receive or send transaction count from BAYC increased by 36%. Furthermore, the collection’s liquidity rate, which gauges the NFTs’ liquidation, notes a 7% hike.

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Are You Just Punked?

CryptoPunks collection fared differently during the mentioned timeframe. Though its floor price noted only a 1% surge over the past seven days, consistent downsides saw it losing 3.52% within the last fourteen days.

The collection saw its sales volume declining by 35%, with $2.73 billion recorded within the previous week. Like Bored Ape Yacht Club, CryptoPunks’ market cap plunged by 2%.

Moreover, the collection’s sales number plummeted by 18% during the under-review period. Meanwhile, the 102 received and sent transactions over the seven-day timeframe indicated a 27% fall on this front.

Also, CryptoPunks recorded a 19% slump in liquidity rate, exhibiting 0.26% liquidity within the last week. CryptoPunks’ NFT floor price has lost 20% in 2022 (NFT Price Floor data). Nevertheless, it leads the pack with a 9.59% NFT market share.

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Editorial credit: mundissima / shutterstock.com

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