https://ift.tt/3z7uVRk NFT’s trading volume shot up by 221 percent in just 24 hours

The underdog of premium NFT collections, Mutant Ape Yacht Club (MAYC) NFT just came out with flying colours as the trading volume saw exceptional hike in merely 24 hours, ranking the NFT collection at no.1 on Ethereum-based NFT marketplace, OpenSea.

The Chinese journalist, Colin Wu took to Twitter this morning noting that MAYC collection’s trading volume surpassed 5200 ETH in past 24 hours, amounting to a 221 percent hike. Furthermore, Wu also highlighted that this had direct impact on the floor price which reached 10 ETH on Monday morning.

Following its bullish pattern, MAYC NFT collection’s trading volume exceeded 6500 ETH with nearly 162 percent hike in past 24 hours at the time of reporting, i.e., Monday evening. Additionally, the floor prices has also surpassed 11 ETH and is now aiming to cross 15 ETH overnight. In light of its continued hike, MAYC has maintained its dominance, securing the first position on OpenSea’s website. With this the underdog of premium NFTs has overpowered the superior, the Bored Ape Yacht Club (BAYC) NFT collection, which was ranked at no.2 on OpenSea, at press time.

Ape NFT collections’ dominance in the premium landscape

While this was not the first time that the MAYC NFT collection saw such extraordinary response. The Mutant Ape Collection was launched in the beginning of September this year and it experienced a staggering response from the investors. Just in an hour of the launch, Yuga Labs sold an outstanding amount of 10,000 Mutant Ape NFTs to new buyers thereby generating more than $96 million worth of ETH in a single hour.

Furthermore, the Bored Ape Yacht Club (BAYC) along with the Mutant Ape Yacht Club (MAYC), and Bored Ape Kennel Club (BAKC) have outperformed this year, securing their place in the premium NFT collection market. In the last month of August, all the three collections combined amassed over 170,000 ETH, i.e., $644 million of the trading volume.