The symbols of the non-fungible movement, CryptoPunks, and their main counterparts, Bored Ape Yacht Club NFTs, keep popping up in the headlines of the most reputable blockchain-related media. Thus, the recent wave-making highlights feature both collections, as the floor price for CryptoPunk NFTs has beaten one of Bored Ape Yacht Club tokens on August 22nd.
The ever-lasting competition between the two most valuable NFT projects has always been a topic of rumors. The current "flipping" made a splash in the realm. However, it didn't last for too long. Thus, Bored Apes have gained their value on OpenSea, with the floors reaching 67 ETH and 66 ETH accordingly, which now equals around $104,000.
This Monday's short-term hype was the first time when CryptoPunk floor topped the ranking since December 2022. But against the backdrop of the protracted bear trend, while Ethereum dropped by about 40% since last December's evaluation of $4,000, the price in fiat for both collections has almost halved.
“Apes have not had their 50% drop yet from peak (in ETH) terms. Every other collection has, and will over time. Punks have, Fidenzas have, it was pretty unlikely that Apes would not have a drop like this,” Nikolai Yakovenko, founder of the NFT valuation site DeepValueNFT, commented on the flipping round.
Other experts predict further plips while new major collections like WoW, Doodle, and others are breathing down CryptoPunks and BAYC's necks.
Currently, it's too early to predict any significant changes down the road. And what do you think about the matter? Go to our socials for a chat!