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    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

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    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

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    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

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    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

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    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

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    Man wearing smart glasses touching a virtual screen to access the metaverse

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    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

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    Celsius denies allegations on Alex Mashinsky trying to flee US

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    France facing backlash for Binance regulatory approval, French MEP called the move “surprising and worrying”

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    Community reacts after SEC’s Gensler affirms BTC’s commodity status

    Ripple CEO Brad Garlinghouse Says Company Will Leave US if SEC Wins Lawsuit: Report

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    Educating regulators will help to mitigate risks, says Figment exec

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    Swiss National Bank exec: Regulators may favor centralized stablecoins after Terra crisis

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    China’s BSN chair calls Bitcoin Ponzi, stablecoins ‘fine if regulated’

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  • Home
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    • Altcoins
  • NFT’s
    APE avoids broader market weakness

    Here’s Why Apecoin (APE) Price Is Skyrocketing Today

    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

    Uniswap Labs Acquires NFT Startup Genie

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

    MoonPay Launches NFT Platform In Universal Studios, Fox Partnership

    Economic Fail Or Key To A Creative Future?

    Economic Fail Or Key To A Creative Future?

    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

    BAYC Collaborates With Rolling Stone For Limited Edition NFTs

  • Metaverse
    Demystifying Metaverse Competition - NFT News Today

    Demystifying Metaverse Competition

    The Go-To Marketplace For All Things Metaverse

    The Go-To Marketplace For All Things Metaverse

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    As Otherside Land Value Drops, Yuga Labs Face Giant Tax Obligation

    The Web 3 LAND Sale

    The Web 3 LAND Sale

    Disney Metaverse

    Disney Hires Former Apple Executive to Head Metaverse Creative Strategy

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    CyberKongZ and The Sandbox Team Up For VoxEdit Contest

    Man wearing smart glasses touching a virtual screen to access the metaverse

    How The Metaverse Can Change Mental Health For The Better

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    Jamiroquai Partners With The Sandbox To Bring Funk To The Metaverse

    3iQ Corp Opens a Virtual HQ in the Voxels Metaverse

    3iQ Corp Opens a Virtual HQ in the Voxels Metaverse

  • Analysis
    Ethereum

    Ethereum Turns Red, Why ETH Must Hold This Key Support

    bitcoin bollinger bands

    Bitcoin Monthly Tags Lower Bollinger Band, Tool’s Creator Hints At Bottom

    Bitcoin

    Bitcoin Dips Could Be Limited, Why 100 SMA Is The Key

    Ethereum

    Ethereum Bulls In Control, Why ETH Could Clear $1,300

    Bitcoin

    Bitcoin Price Eyes Upside Break, Why BTC Could Surge to $23K

    bitcoin google

    Is Bitcoin Like Buying Google Early? The Shocking Comparison

    Harmony's Cross-Chain Bridge Exploited for $100M

    Harmony’s Cross-Chain Bridge Exploited for $100M

    Ethereum Key Indicators Suggest Strengthening Case For More Upsides

    Ethereum Key Indicators Suggest Strengthening Case For More Upsides

    Bitcoin Struggles to Rebound as Miner Capitulation Continues 

    Bitcoin Struggles to Rebound as Miner Capitulation Continues 

  • Learn About Crypto
    Overbought vs. Oversold Signals

    Overbought vs. Oversold Signals

    What Is a Decentralized Exchange (DEX)?

    What Is a Decentralized Exchange (DEX)?

    What Is Ethereum 2.0 (The Merge)?

    What Is Ethereum 2.0 (The Merge)?

    Breaking: ExxonMobil is Mining Bitcoin With Natural gas

    Iran Cuts Power Supply To Crypto Mines;

    What Is Crypto Lending

    What Is Crypto Lending

    How to Survive a (Crypto) Bear Market

    How to Survive a (Crypto) Bear Market

    Top 6 Crypto Events for June 2022 – Coingape

    What Is A Bull Flag Pattern and How to Use It

    What Is A Bull Flag Pattern and How to Use It

    A Beginner’s Guide To Reversal Candlestick Patterns

    A Beginner’s Guide To Reversal Candlestick Patterns

  • Regulation
    Celsius denies allegations on Alex Mashinsky trying to flee US

    Celsius denies allegations on Alex Mashinsky trying to flee US

    France facing backlash for Binance regulatory approval, French MEP called the move “surprising and worrying”

    France facing backlash for Binance regulatory approval, French MEP called the move “surprising and worrying”

    Community reacts after SEC’s Gensler affirms BTC’s commodity status

    Community reacts after SEC’s Gensler affirms BTC’s commodity status

    Ripple CEO Brad Garlinghouse Says Company Will Leave US if SEC Wins Lawsuit: Report

    Ripple CEO Brad Garlinghouse Says Company Will Leave US if SEC Wins Lawsuit: Report

    Central African Republic president launches crypto initiative following Bitcoin adoption

    Central African Republic president launches crypto initiative following Bitcoin adoption

    Educating regulators will help to mitigate risks, says Figment exec

    Educating regulators will help to mitigate risks, says Figment exec

    Swiss National Bank exec: Regulators may favor centralized stablecoins after Terra crisis

    Swiss National Bank exec: Regulators may favor centralized stablecoins after Terra crisis

    China’s BSN chair calls Bitcoin Ponzi, stablecoins ‘fine if regulated’

    China’s BSN chair calls Bitcoin Ponzi, stablecoins ‘fine if regulated’

    Catalonia is building its own metaverse, says innovation minister

    Catalonia is building its own metaverse, says innovation minister

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Decoding the reason behind meteoric rise in floor prices of these top NFT collections

April 24, 2022
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Decoding the reason behind meteoric rise in floor prices of these top NFT collections
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Yuga Labs announced its Otherside metaverse project with a teaser video about a month ago, shortly after ApeCoin debuted. In a tweet at the time, Yuga Labs hinted that the metaverse project could launch as soon as April. It would reportedly include all of Yuga Labs’ NFT franchises, including its jewel, Bored Ape Yacht Club. Along with Mutant Ape Yacht Club, CryptoPunks, and Meebits.

Happy Ape dance 

With the official announcement of the metaverse project Otherside, the floor price of BAYC reached a new high of 137 ETH, and the transaction volume increased by 22% in 24 hours. MAYC 24-hour traders rose 86% and floor prices rose 11%. In fact, BAYC and MAYC ranked the top #1 and #2 NFTs by floor cap (market cap) on NFT price tracking websites such as NFTPriceFloor, Coinmarketcap and Coingecko.

Here’s a deep dive into each of the two interesting projects to get a better view of the statistics.

Bored Ape Yacht Club (BAYC), a collection of 10,000 unique Bored Ape NFTs— unique digital collectibles living on the Ethereum blockchain showcased an unprecedented rebound. As per an analytical platform, Dappradar, BAYC’s market value has exceeded $4 billion and currently sat at around $4.04 billion posting a 5% hike in 24 hours.

Source: OpenSea

In fact, the transaction volume passed a milestone of half a million Ether as evident above. Also, in the last 7 days, the sales volume exceeded 10,000 ETH. But why?

Well, mostly speculation from popular NFT influencers on social media did the trick. BAYC NFT owners would receive an airdrop of virtual land in the upcoming metaverse to be built by Yuga Labs. So if any BAYC holders were planning on selling and taking profit, that’s another reason not to.

Consequently, the floor price skyrocketed, as shown by CoinGecko. It went from 92 ETH to more than 130 ETH today.

Source: Coingecko

The hike in the “minimum” price tag showcased the sheer demand for this project. From a USD perspective, this means that the floor price is now almost $390,000.

Another ape joins the party 

BAYC’s closest competitor, the Mutant Ape Yacht Club also saw a new all time high as it climbed to a 38.5 ETH floor price post a 12.2% rise at press time. Just like its counter part, MAYC, at the third spot recorded promising numbers as is evident in the table below:

Source: OpenSea

The two flagship collections of Yuga Labs, along with the price of ApeCoin (APE) pumped in response to rumors of a Genesis drop. But the main question that needs to be asked or highlighted is the concerns regarding exploits.

Earlier this month, EtherScan reported that Bored Ape Yacht Club’s Discord account got compromised, with some users’ funds stolen and at least one NFT stolen.

Does this imply that the community moved on from such uncertainties around safety?



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Tags: CollectionsDecodingFloormeteoricNFTPricesreasonriseTop
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