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OpenSea volumes go bananas as collectors pile back into Bored Ape Yacht Club NFTs
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Crypto Twitter nonfungible token (NFT) influencers have been relatively quiet over the past two weeks as trading volumes on OpenSea dropped to a three-month low and analysts critical of the emerging sector say a bear market is at hand.
While overall sale volumes do pale in comparison to previous months, certain projects have seen a significant surge in the last week.
Data from Dune Analytics shows that on Nov. 14, the daily amount of Ether (ETH) traded on OpenSea catapulted from $48 million to $105 million and at the time of writing, $63.1 million in Ether has been traded.
The surge appears to be connected with a more than 900% uptick in the sell volume of Bored Ape Yacht Club (BAYC) NFTs and associated projects like Mutant Ape Yacht Club
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