The market for Non-Fungible Apes (NFAs) has demonstrated incredible growth over the course of three months.
Progress Made
Non-Fungible Apes (NFA) on ApeSwap are becoming increasingly popular with 1,719 ape transactions making their Non-Fungible Token (NFT) market worth about $3,000,000.
The (NFTs) have made strides for being a relatively new project on Binance Smart Chain (BSC). One ApeSwap Twitter user pointed out on August 11th the incredible growth ApeSwap has had via data acquired from ApesScan.
“Only three months have passed since the launch [of the non-fungible apes] project, and the market value is already more than 7500+ BNB.”
The NFA’s are a unique type of random number generated NFTs which have garnered extreme growth. They are in the same realm as NFTs such as CryptoPunks and Pudgy Penguins.
NFAs are Euphoric
A recent ape numbered 990 on the NFA Index was named ‘Cz Binance Ape’. This “common” rarity NFA displayed the massive speculation rampant in the NFT market.
Part of the reason for the success of non-fungible apes may be down to the sense of fun and mischief the community has created.
“Yo, @cz_binance someone sent me this pic of you trying to buy your own #NFA on @ape_swap. Is this true?” joked the ApeSwap DEX analyst, Apegineer.
Upon quick inspection, the accompanying evidence provided by non-fungible apes show signs of photographic trickery – big surprise…
‘Shopped’ or not, the non-fungible ape named after the Binance CEO sold for 80.42 BNB at auction – 30,939 at current BNB prices.
It is crucial to note the extreme illiquidity and risk of NFT markets as prices reach extreme highs across the market. This can be seen in broad market statistics via NonFungible.com who has recorded a ~1000% increase in NFT volume over the period of a month.
Ends
With significant growth metrics over their first quarter, the market for non-fungible apes has experienced exponential growth. Nothing is stopping this market from moving higher, but the same holds true to the downside.
Source : bsc.news
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