, the Blue Chip NFT Index has dwindled since the year began. The Blue Chip Index is calculated by weighing the market capitalization of Blue Chip NFT collections to determine their performance. At 7,616 ETH at press time, it has fallen by 18% since 1 January., with 444 sales transactions completed in April, BAYC logged a sales volume of $43.83 million. This represented a 32% growth from the 336 transactions completed in March and a 16% rally from the $37.
However, despite a jump in sales volume and sales count in April, BAYC’s floor price fell by 21% during the 30-day period, according to data from . At an average price of 46 ETH at press time, the collection’s price floor dwindled by 14% in the last month.Following a temporary surge in interest in profile picture NFTs in Q1, Q2 was plagued by a decline in interest in this digital asset class. The general market’s sales volume has dropped by 54% in the past 45. Likewise, the NFT market capitalization plummeted by 14% within the same period.
Further, the collection’s floor price has also suffered a decline. According to NFTGo, this has dropped by 26% since the beginning of April. Moreso, at an average price of 11.3 ETH at press time, the value of a MAYC NFT has been reduced by 24% since 1 April.