- Yuga Labs’ NFT project, Bored Ape Yacht Club (BAYC), rallied in the run-up to Christmas.
- In 5 days, NFT trading volume dropped from more than $24 million to $12.9 million.
- The floor price of CryptoPunks remained steady over the break in 2022.
NFT trade volume plummeted 46.5% from over $24 million on December 20 to just $12.9 million on December 25 this year, according to the tracking platform Cryptoslam. For the second time in a row, non-food retail sales have declined in the run-up to Christmas.
The floor price of Yuga Labs’ NFT project, Bored Ape Yacht Club, climbed marginally in the run-up to the vacation. Yuga Labs is a blockchain-based startup that creates digital assets and NFTs. It is an expert in blockchain, cryptocurrencies, and electronic content. It is the inventor of the Bored Ape Yacht Club. The project began in April 2021. Yuga Labs will be worth $4 billion in 2022.
According to the year’s low cryptocurrency market, Christmas trading volume plummeted by 80% in 2022 relative to 2021. The recession had a significant impact on NFT marketplace activities, resulting in successive declines in trading volume for the last 8 months, with December’s statistics yet unfinished.
The project’s price level grew by 3.81 ETH in 2021 and 10.28 ETH in 2022 in the 5 days before the vacation. Despite accounting for five of the top twelve most valuable NFT deals this year, CryptoPunks‘ floor price fell in the run-up to Christmas last year and stayed stable during the holiday in 2022.
Following the NFT data tracker CryptoSlam, the NFT volume of trade declined in 2021, from $80.8 million on December 22 to $64.3 million on December 25.