Twitter crypto-influences (NFTs) have been relatively quiet over the past two weeks, with OpenSea trading volume falling to a low level of three months, and analysts critical of the emerging sector saying bear markets are within reach.

While total sales are down from previous months, some projects have increased significantly in the last week.

Dune Analytics data shows that OpenSea’s daily Ether (ETH) trading volume has grown from $ 48 million to $ 105 million on November 14, with $ 63.1 million traded at the time of writing.

Daily volume for OpenSea Ethereum. Source: Dune Analytics.
The growth appears to be due to a more than 900% increase in the NFT Bored Ape Yacht Club (BAYC), and related projects such as the Mutant Ape Yacht Club have also increased by over 1000%.

Bored Ape Yacht Club 90 days in size and price floor. Source: OpenSea
Recent acquisitions of celebrities such as Jimmy Fallon, the launch of the Rolling Stone’s limited edition of 2,500 copies with a boring monkey on the front page, and the announcement that Universal Music Group will form a metaverse-based group called Kingship are possible reasons for the growing interest in the project.

Further up-and-coming news came on November 12 after Timbaland, a multiple Grammy winner and acclaimed music producer, announced that his newly created studio Ape-In Productions would use BAYC NFT avatars to create music and animation in various aspects of development. metavers.

Monkey derivatives thrive
Imitation is often cited as the most sincere form of flattery, and as of November 15, it seems to be true in the NFT market. A recently launched project called Lil Baby Ape club (LBAC) is currently experiencing huge sales at Opensea with 1417 Ether, reflecting an increase of 207.344% over the last 24 hours and a low of 0.438 Ether.

Baby Ape’s launches on November 15 at a minimum price of 0.02 Ether ($ 94) and is the original BAYC project. Current volumes and an average selling price of $ 2,200 are clear signs that the project is popular with collectors, flippers and speculators.

Just imagine that Lil Baby Apes threw himself into this … madness for 0.02 minutes yesterday.

Crazy than the guys who called for free LBAC when they launched. The first 200 minutes were free! https://t.co/jTvN6xtOFn

– Little monkeys club | end! (@LilBabyApeClub) November 15, 2021
The extremely rare gold-skinned monkey with laser eyes that collectors are looking for is also part of the LBAC project, and earlier today the corresponding gold LBAC was sold for 7 ethers ($ 33,000).

LBAC # 1604

Sold for $ 7 ETH $ 33,019.85! https://t.co/PfKYgOhTs0 pic.twitter.com/e5cragigUL

– Little monkeys club | end! (@LilBabyApeClub) November 15, 2021
While the LBAC project presents some impressive figures shortly after the coin was minted, it will be interesting to see if the current hype is entirely driven by speculation and short-term speculation, or if NFT influencers and well-known collectors open their hands. the project gives it somehow a status similar to other projects that are excellent in space.

Bored Ape Yacht Club is not a public domain under Creative Commons (CCO), and so, like Larva Labs’ modern steak with CryptoPhunks, the BAYC community may request OpenSea to wind up Lil Baby Ape Club.

Source: CoinTelegraph

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