Up by 2% during the last seven days, the Blue Chip Index revealed some development within the efficiency of Blue Chip NFTs over the previous week.
Based on NFTGo, the Blue Chip Index is calculated by weighing the market capitalization of Blue Chip NFT collections to find out their efficiency.
So, let’s take a more in-depth take a look at the efficiency of the highest two Blue Chip NFT collections – Bored Ape Yacht Membership (BAYC) and CryptoPunks – over the aforementioned interval.
BAYC is king?
A couple of weeks in the past, the sustained downturn within the normal cryptocurrency market pressured the Ethereum flooring worth of the BAYC NFT assortment to drop to 65 ETH.
Based on knowledge from NFT Ground Value, this represented the bottom degree the NFT challenge touched for the reason that starting of the yr. With a worth of 72.5 ETH at press time, BAYC’s flooring worth appreciated by 7% during the last seven days.
Even supposing Ethereum (ETH) shed 7% of its worth over the aforementioned interval, BAYC noticed an uptick in its gross sales quantity. Based on knowledge from NFTGo, BAYC gross sales totalled $13.54 million, subsequently, rising by 11.58% throughout the 7-day interval.
Nonetheless, regardless of the expansion in gross sales quantity for the Blue Chip NFT assortment, its market capitalization didn’t log any development. As an alternative, it declined by 0.45%.
Moreover, 101 gross sales transactions involving BAYC NFTs have been accomplished throughout the 7-day interval. This represented a 7.45% rally within the assortment’s gross sales rely inside that interval.
Other than gross sales, the variety of transactions to ship or obtain NFTs from the gathering additionally went up by 36%. Moreover, BAYC’s liquidity charge, which measures the relative liquidity of the NFTs assortment, hiked by 7% too.
You simply received punked!
Throughout the interval underneath assessment, the CryptoPunks NFTs assortment fared in a different way. Whereas its flooring worth grew by simply 1% within the final seven days, it has fallen constantly by 3.52% over the previous two weeks.
With solely $2.73 billion registered in gross sales during the last week, gross sales quantity for CryptoPunks plummeted by 35%. Like BAYC, its market capitalization additionally fell by 2% on the charts.
As well as, the gathering’s gross sales rely fell by 18% throughout the interval underneath assessment. With solely 102 despatched and acquired transactions accomplished throughout the 7-day interval, a 27% decline was logged on this regard.
With a determine of 0.26% recorded as liquidity during the last seven days, the gathering’s liquidity charge dropped by 19%.
To date this yr, the ground worth for CryptoPunks NFTs has dropped by about 20%, knowledge from NFT Value Ground revealed.
Even so, it continues to steer your entire pack by holding a 9.59% share of your entire NFT market.