The Past Few Days Have Been Exciting At The BAYC As Trade Volume, Price, And Membership Soar
It has been an exciting few days at the Bored Ape Yacht Club, as the floor price rises and numerous new users join the club.
At the time of this articles publication, the Bored Ape Yacht Club is currently ranked as the top project in terms of seven day sales volume with 9,941.28 Eth worth of trades in the past week. The Bored Ape Kennel Club is also ranked third in terms of seven day sales volume with 1,890.32 Eth traded in the past week.
Together, the two Yugalabs projects have a combined seven day sales volume of 11,831.6 Eth or $22,480,040 USD.
As the amount of trading over the past week has risen, so has the number of unique Bored Ape owners. At the time of this articles publication, the BAYC had 4817 members.
Currently the Floor price of a bored ape and kennel club dog are 7.7 Eth and 1.74 Eth respectively.
“The floor was 1 Eth and people were getting BAYC tattoos,” BAYC member JeffKcollins tweeted. “If you didn’t see this coming I don’t know what to tell you.”
As many bored apes are unusually excited about the recent price movement, several BAYC collectors still see a lot of upside for the club.
As prices continue to rise in the BAYC, many outside the community are wondering why the price is moving so fast.
BAYC collector and owner of Apesthetics, OGDfarmer believes the rapid price movement has to do with the fact the BAYC members own full IP rights to their bored apes.
“This. Just this. Always this," OGDFarmer tweeted. “Every single argument about it could end right here. It’s every single incentivized ape holder, in the better distributed NFT token of all times, creating an incentive aligned positive feedback loop for the community. I win we win is not a meme here.”