Key Points
- Bitcoin has outperformed Ethereum in NFT weekly trading volume.
- Bored Ape Yacht Club’s (BAYC) NFT collection floor price has significantly dropped to its 2021 levels.
In the last week, Bitcoin has surpassed Ethereum in terms of NFT sales volume.
CryptoSlam’s data shows that Bitcoin leads the weekly trading volume, despite Ethereum’s surge in the past two days.
NFT Sales Volume
Between March 20 and 21, Ethereum’s NFT sales volume reached $43 million, which is 115% more than Bitcoin’s $20 million.
However, over a week-long period, Bitcoin displayed higher NFT sales activity.
NFT sales on Bitcoin network totalled $126 million from 50,000 transactions within this period.
These transactions involved 49,228 unique sellers and 54,780 unique buyers.
In the past 21 days, the total value of all NFTs sold on the Bitcoin network was $408 million, a 32% increase from February’s $307 million.
Meanwhile, Ethereum’s NFT sales volume in the last week was $108 million, resulting from 134,178 transactions between 46,985 unique sellers and 57,209 unique buyers.
BAYC’s Floor Price Decline
The floor price of the leading NFT collection, Bored Ape Yacht Club (BAYC), has experienced a significant decrease since the start of the year.
As of March 22, an NFT from BAYC could be purchased at a floor price of 14.16 ETH, approximately $50,000.
This is a 46% drop from the collection’s floor price of 26 ETH on January 1.
At this current floor price, the NFTs in the BAYC collection are at their lowest value since August 2021.
This month’s decline in BAYC’s value has led to an increase in the selling and buying of NFTs from the collection, surpassing the volumes of February and January.
BAYC’s sales volume this month has reached $33 million, which is 57% more than February’s $21 million and 94% more than January’s $17 million.
Despite the month not being over yet, March is already the month with the highest sales volume this year.
