- The last 24 hours have seen trading volumes for BAYC and MAYC NFTs going up.
- The sudden increase in the volumes may lead to panic sell-offs.
- A day before, there was a slight decrease in the floor prices of both collections.
Yuga Labs’ Bored Ape Yacht Club and Mutant Ape Yacht Club have seen tremendous rise in their trading volumes in the last 24 hours.
Based on the latest data, the transaction volume of MAYC NFTs have been observed at $1.02 million with 300% plus increase in volume throughout different exchanges.
BAYC too observed a similar trend with a daily increase of 86% in trading volume at $1.8 million.
Interestingly, the rise in both BAYC and MAYC deals took place after the news regarding Yuga Labs being investigated by the U.S. Securities and Exchange Commission came out.
According to trading records of OpenSea, 7 MAYC sales took place the last day, 24 NFTs were deals wherein owners accepted bids at prices that were below than the quoted prices. This clearly shows the trend of valuable sell-offs.
Small drops were observed in the floor prices of Bored Ape Yacht Club and Mutant Ape Yacht Club. On October 12, both the collections traded down at 2.6% (BAYC) and 4.9% (MAYC).