• Popular NFT collections saw an increase in trading volume and sales.
• ApeCoin found favor with whales, but network traffic declined.
• Yuga Labs accused of IP theft for one of its logo designs.
Jump in Trading Volume and Sales
Popular NFT collections of the ecosystem recorded a jump in trading volume and sales. Native token ApeCoin found favors with whales but network traffic tapered down. Yuga Labs‘ blue-chip NFTs posted solid growth over the past week in most of its key performance indicators. According to data from OpenSea, the popular collection Bored Ape Yacht Club’s (BAYC) trading volume surged 150% over the last seven days and the number of sales grew in a similar fashion.
Mutant Ape Yacht Club Performance
The trading volume for Mutant Ape Yacht Club (MAYC) almost doubled over the past week, with a considerable rise in its floor price as well. The increase in floor price indicated that MAYC remained high on the list of NFT traders and collectors.
Apecoin Value Today
How much are 1,10,100 APEs worth today? Surprisingly, the growth in aforementioned areas came amidst a raging controversy where Yuga Labs allegedly used an unlicensed design for the logo of its Bored Ape Kennel Club (BAKC) NFT collection. Yuga Labs‘ co-founder reacted to the allegations and stated that the BAKC logo will be changed. At the time of writing, the controversial wolf skull was dropped from the logo on OpenSea’s portal.
Whale Stats Tweet
The ecosystem’s NFT token ApeCoin [APE] managed to shrug off negativity from this episode too as it became one of most used smart contracts among top Ethereum [ETH] whales, as per a tweet by WhaleStats. Token unlocks could derail ApeCoin Despite interest shown by whales, APE’s supply on exchanges increased, per data from Santiment – a bearish signal for token’s price. On-chain data didn’t evoke much enthusiasm either; daily active addresses dropped sharply over last 10 days; token failed to garner any significant traction either at launch or after it got listed on major exchanges such as Coinbase Pro & Uniswap V3 respectively..
Yuga Labs Logo Changed
Saw claims today about BAKC logo being news to Yuga Labs; freelancer hired for design & Easy Drawing Guides contacted;logo will be changed & updated on site/ask marketplaces to change as well – tweeted CryptoGarga (co-founder).