NFT Market Sees Mixed Results: Floor Prices Fall in 24H, Overall Sales Increase in a Week

Market NFT Non-fungible tokens Trading

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Ruholamin Haqshanas

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Ruholamin Haqshanas

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

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June 26, 2023 06:58 EDT

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The market for non-fungible tokens (NFTs) is seeing a very mixed picture amid the broader crypto market downturn – a small relief rally in the floor prices was recorded in the past day by a couple of major collections with others continue to decline, and the overall trading volume for the majority of these has risen over the past week.

Yuga Lab‘s Bored Ape Yacht Club (BAYC) has seen its floor price rise by 4% to USD 88,070 over the past 24 hours, according to NFT data aggregator DappRadar, at 11:00 UTC on Wednesday morning. Likewise, the average price of a BAYC NFT has increased by 50% to USD 152,640.

Furthermore, Otherdeed has also seen an increase in their floor prices of around 7%. The average price, however, is down by 7% in the same time period.

Other blue-chip NFT collections, however, have seen a drop in their floor prices. The hyped NFT collection Goblintown has seen its floor price fall by 13% to USD 3,230, according to DappRadar. The average price is down 7% to USD 4,960. 

CryptoPunks and Mutant Ape Yacht Club (MAYC) are also down, with their floor prices dropping 3% to USD 50,390 and over 1% to USD 15,750, respectively. The former’s average price is down 23% to USD 65,840, while the latter’s is up by 13% to USD 21,070.

Meanwhile, the trading volume of the majority of these NFT collections has increased over the past week.

BAYC is up less than 1% to USD 12.8m, MAYC went up more than 20% to USD 7.35m, Otherdeed climbed 46% to 8%, and CryptoPunks is up a whopping 203% to USD 7.64m.

Goblintown, meanwhile, has seen its volume drop over 76% in the same time period to USD 6.9m. 

All this comes as the crypto bloodbath continues. According to CoinGecko, the top 10 cryptoassets by market capitalization are all in the red over the past 24 hours, with bitcoin (BTC) and ethereum (ETH) suffering the most, dropping 8% and 11%, respectively.

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