The three NFT collections from Yuga Labs could be pulling trading volumes down across the entire market. In addition to sluggish volumes, active wallets and unique buyer numbers are falling off the map in May.
) collections by Yuga Labs have experienced a dramatic downturn in transaction volume over the past 24 hours.
Otherdeed is down just over 50%, Mutant Ape Yacht Club is down 46%, and Bored Ape Yacht Club is down 25% according toOver the past 24 hours, general NFT market activity has mirrored Yuga’s collections, where volume has dropped 31% to $113 million. However, prices have not yet followed suit as the total NFT market cap has dropped marginally to $19.5 billion in the same period.Those collections comprise three of the top five traded collections globally.
Among the top ten collections by sales volume, only three are in the green. CyberBrokers is in second place and is up 4,124%, Azuki is in fifth place and is up 7.5%, and ninth place Doodles is up 22.74% according to NFT marketAccording to NFTgo, the transaction volume of Yuga Labs series NFTs has dropped significantly in the past 24 hours. Otherdeed MAYC BAYC trading volume dropped by 44%, 41% and 30% respectively, BAYC floor price fell below 100ETH.
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