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No Monkey Business for Bored Apes as Token Collection Hits All-Time High

2 mins
Updated by Geraint Price
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In Brief

  • The floor price of the Bored Ape Yacht Club NFT collection hit a new all-time high at 176 ETH.
  • Rival NFT collection CryptoPunks hit a two-month low, after being surpassed in all-time sales.
  • Bored Apes have soared in popularity over the past year, even finding their way into the MTV VMAs.
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The Bored Ape Yacht Club non-fungible token (NFT) collection has hit a new all-time high, according to data from Dune Analytics.

The floor price of the record-setting NFT collection from Yuga Labs reached 176.989 ETH, according to user analysis. The analysis also revealed that BAYC reached a two-month-high in terms of median price, at 440.51 ETH. 

In contrast, the median price for rival NFT collection CryptoPunks reached a two-month low, at 33.73 ETH. With $2.4 billion in total sales, BAYC managed to surpass CryptoPunks earlier this week by achieving the top spot in overall sales.

Interest in Bored Apes boosted

Comprising 10,000 unique NFT digital collectible ape avatars, BAYC did not perform especially well after initially launching in April 2021. Yet, as cryptocurrency markets have struggled over the course of the past year, BAYC seems to have hit its stride, achieving $2 billion in sales in May this year.

BAYC currently has the highest amount of sales volume of any NFT collection over the past day at just over $2 million, according to data from CryptoSlam.

However, data from DappRadar puts the figure closer to $1.67 million. The crypto data provider also listed NFT BAYC #6588 as the top NFT sale over the past day, at $1.19 million.

Source: DappRadar

Appearance at MTV awards

BAYC has even become so popular as to permeate the highest levels of Western popular culture. Earlier this week, rappers Eminem and Snoop Dogg performed at the MTV Music Video Awards as Bored Ape avatars.

The performance spliced a live performance in front of the VMA audience with animated segments inside the metaverse, similar to their music video released earlier this summer.

Both rappers have been supporters of cryptocurrency ecosystems over the past few years. After dropping several NFTs through his ShadyCon event, Eminem proceeded to invest in NFT marketplace MakersPlace. Meanwhile, Snoop Dogg has been known for his support of Dogecoin, sending it surging after posting a picture of himself as the “Snoop Doge” last year.

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Nicholas Pongratz
Nick is a data scientist who teaches economics and communication in Budapest, Hungary, where he received a BA in Political Science and Economics and an MSc in Business Analytics from CEU. He has been writing about cryptocurrency and blockchain technology since 2018, and is intrigued by its potential economic and political usage.
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