Up by 2% over the past seven days, the Blue Chip Index revealed some development within the efficiency of Blue Chip NFTs over the previous week.
In response to NFTGo, the Blue Chip Index is calculated by weighing the market capitalization of Blue Chip NFT collections to find out their efficiency.
So, let’s take a more in-depth take a look at the efficiency of the highest two Blue Chip NFT collections – Bored Ape Yacht Membership (BAYC) and CryptoPunks – over the aforementioned interval.
BAYC is king?
Just a few weeks in the past, the sustained downturn within the normal cryptocurrency market compelled the Ethereum ground value of the BAYC NFT assortment to drop to 65 ETH.
In response to knowledge from NFT Floor Price, this represented the bottom stage the NFT mission touched for the reason that starting of the 12 months. With a worth of 72.5 ETH at press time, BAYC’s ground value appreciated by 7% over the past seven days.
Although Ethereum (ETH) shed 7% of its worth over the aforementioned interval, BAYC noticed an uptick in its gross sales quantity. In response to knowledge from NFTGo, BAYC gross sales totalled $13.54 million, due to this fact, rising by 11.58% throughout the 7-day interval.
Nevertheless, regardless of the expansion in gross sales quantity for the Blue Chip NFT assortment, its market capitalization didn’t log any development. As an alternative, it declined by 0.45%.
Moreover, 101 gross sales transactions involving BAYC NFTs had been accomplished throughout the 7-day interval. This represented a 7.45% rally within the assortment’s gross sales rely inside that interval.
Other than gross sales, the variety of transactions to ship or obtain NFTs from the gathering additionally went up by 36%. Moreover, BAYC’s liquidity fee, which measures the relative liquidity of the NFTs assortment, hiked by 7% too.
You simply bought punked!
Throughout the interval underneath evaluation, the CryptoPunks NFTs assortment fared otherwise. Whereas its ground value grew by simply 1% within the final seven days, it has fallen constantly by 3.52% over the previous two weeks.
With solely $2.73 billion registered in gross sales over the past week, gross sales quantity for CryptoPunks plummeted by 35%. Like BAYC, its market capitalization additionally fell by 2% on the charts.
As well as, the gathering’s gross sales rely fell by 18% throughout the interval underneath evaluation. With solely 102 despatched and obtained transactions accomplished throughout the 7-day interval, a 27% decline was logged on this regard.
With a determine of 0.26% recorded as liquidity over the past seven days, the gathering’s liquidity fee dropped by 19%.
To this point this 12 months, the ground value for CryptoPunks NFTs has dropped by about 20%, knowledge from NFT Price Floor revealed.
Even so, it continues to guide all the pack by holding a 9.59% share of all the NFT market.