Up 2% over the past seven days, the Blue Chip Index shows some growth in Blue Chip NFTS performance over the past week.
According to NFTGo, the Blue Chip Index is calculated by determining the Market Capitalization of NFT Blue Chip collections to determine their performance.
Is BAYC the KING of NFTs?
A few weeks ago, a continued downturn in the cryptocurrency market as a whole forced the Ethereum floor price of the BAYC NFT collection down to 65 ETH.
According to data from NFT Floor Price, this is the lowest level of this project since the beginning of the year. With a value of 72.5 ETH at the time of writing, BAYC’s floor price has increased by 7% over the past seven days.
Despite the fact that Ethereum (ETH) has dropped by 7% in value during the aforementioned period, BAYC is still increasing in terms of its sales volume. According to data from NFTGo, BAYC’s sales totaled $13.54 million, which, in turn, increased by 11.58% over a 7-day period.
However, despite the growth in the volume of NFT Blue Chip collection sales, its Market Cap did not record any growth. Instead, it fell 0.45%.
Furthermore, 101 sales related to BAYC NFT were completed in a 7-day period. This represents a 7.45% increase in collection sales over that time period. In addition to sales, the number of NFT transactions from the collection also increased by 36%.
In addition, BAYC’s liquidity ratio, which measures the relative liquidity of NFT collection, also increased by 7%.
So what about CryptoPunks?
During the period reviewed, the CryptoPunks NFTs collection was different. While its floor price is up only 1%, and has fallen continuously by 3.52% over the past two weeks.
Compared to the $2.73 billion sales registered last week, sales for CryptoPunks plummeted by 35%. Like BAYC, its market cap is also down 2% on the charts.
In addition, sales of the collection have dropped by 18% over the past week. Only 102 trades were successfully executed, down 27%.
With 0.26% recorded as liquidity over the past seven days, the collection’s liquidity ratio has decreased by 19%.
So far, the floor price of CryptoPunks NFTs has dropped by about 20%, according to NFT Price Floor.
Despite this, CryptoPunks continues to lead the entire market holding a 9.59% share of the entire NFT market.
