According to NFT Price Floor, the famous NFT collection Bored Ape Yacht Club (BAYC) briefly lost its leading position in terms of floor price on Sunday. This is the first that someone else has topped the NFT chart since March.
That “someone else” is CryptoPunks, BAYC’s chief competitor. The creation of Larva Labs, CryptoPunks is widely seen as the collection that sparked the NFT craze and inspired many other NFT collections – including BAYC. Lately, it gained some momentum as it handed over the commercial rights directly to CryptoPunks holders.
Regardless, both CryptoPunks’ and BAYC’s price has been steadily decreasing. CryptoPunks managed to briefly retake the top position as its value is dropping more slowly, some 25% when compared to CryptoPunks’ 35% drop.
It’s also notable that, on Saturday, BAYC’s price reached an 8-month low, amounting to 65.68 ETH. It has since increased to 68.48 ETH, with CryptoPunks being sold for 66.45 ETH at the moment.
It seems that CryptoPunk has caught up with BAYC and we’re likely to see the two NFT collections battling for the top position in the coming months. This is good news for Yuga Labs, the company that has in its ownership both collections since March.