Daily Archives: January 3, 2022

Turkey’s Inflation Jumps to 36%, Lira’s Value Plummets, Citizens Flock to Stablecoins

The Republic of Turkey’s economy and the country’s native fiat currency the Turkish lira continue to experience turmoil as inflation has risen to 36%. Since this time last year, the lira has lost 44% of its value against the U.S. dollar. Meanwhile, the use of stablecoins in Turkey has skyrocketed and today, 28.96% of all trades with tether are paired against the Turkish lira.

Inflation in Turkey Rises to the Highest Level in 19 Years, TRY Is Tether’s Top Pair Capturing 29% of All Trades, TRY Commands 7.20% of BUSD Trades

  • Reports from the ​​Turkish Statistical Institute on Monday detail that inflation in Turkey has soared to 36%, which is the highest rate it’s been in 19 years. Reuters explains that during the month of December a basket of consumer prices shot up to 13.58%.
  • During the last 12 months, the Turkish lira has lost 44% of its value against the USD. The current inflation has never been higher during Tayyip Erdoğan’s rule. Just recently the nation’s central bank introduced a concept that encourages people to convert gold into lira time deposits.
  • Turkey’s central bank has slashed the country’s benchmark interest rate down four months in a row. The rate cut in mid-December dropped the Turkish lira to a record low of 15.5 against the USD.
  • 2021 has shown that demand for bitcoin (BTC) in Turkey has risen a great deal. At the time of writing, TRY represents 0.69% of all BTC trades and 0.72% of all ETH swaps.

  • Turkey’s demand for stablecoins is much larger than the traditional crypto assets like BTC and ETH. Data shows on January 3, 2021, that the stablecoin tether’s (USDT) largest fiat trading pair is TRY with 29.42% of USDT swaps.
  • The stablecoin issued by Binance BUSD has recorded 7.20% of all trades with the Turkish lira today and TRY is BUSD’s second-most traded pair. Turkey doesn’t use USDC much, as TRY only represents 0.36% of all USDC swaps today.
  • Reports have shown that the lira’s sluggish year has contributed to a great deal of crypto-asset trades with the fiat currency. Turkish President Recep Tayyip Erdoğan, however, has clarified Turkey’s stance on cryptocurrencies and said “we have a separate war, a separate struggle against them.”
  • Metrics indicate that the Turkish inflation is due to a number of factors including the cost of transportation, food and beverage costs, and household items “skyrocketing” in comparison to a year ago today.
  • In addition to the gold conversion ploy, Erdoğan has urged Turkish businesses and high net worth individuals to help protect the country’s native currency. “As long as we don’t take our own money as a benchmark, we are doomed to sink. The Turkish lira, our money, that is what we will go forward with. Not with foreign currency,” Erdoğan stated on Friday.

What do you think about Turkey’s inflation soaring to 36% and the country’s demand for stablecoins? Let us know what you think about this subject in the comments section below.

Smart TVs and NFTs Collide: Samsung Introduces World’s First Television-Based NFT Platform

Smart TVs and NFTs Collide: Samsung Introduces World’s First Television-Based NFT Platform

The well known electronics giant Samsung, the manufacturer of LCD and LED panels, laptops, mobile phones, memory chips, and televisions, revealed that the firm’s upcoming smart TVs will incorporate non-fungible token (NFT) technology.

Samsung Reveals Smart TV With NFT Capabilities

One of the largest electronics manufacturers worldwide, Samsung Electronics, has noticed how popular NFTs are today and the company believes there’s something needed to view these digital artworks. The U.S. Samsung Newsroom published a summary of the company’s latest lineup of MICRO LED, Neo QLED, and Lifestyle TVs with “cutting-edge personalization options.”

The NFT description is toward the end of the announcement which explains that “Samsung’s 2022 Smart TVs come with a new Smart Hub.” In addition to features like the “Gaming Hub,” “Watch All,” and an NFT Platform. “This application features an intuitive, integrated platform for discovering, purchasing and trading digital artwork through MICRO LED, Neo QLED and The Frame,” Samsung’s announcement details.

Samsung also spoke about the NFT Platform with the news publication The Verge as the company said it has noticed the popularity of NFT technology. The electronics giant says the new TVs will be the first of their kind with an NFT explorer and market.

“With demand for NFTs on the rise, the need for a solution to today’s fragmented viewing and purchasing landscape has never been greater. In 2022, Samsung is introducing the world’s first TV screen-based NFT explorer and marketplace aggregator, a groundbreaking platform that lets you browse, purchase, and display your favorite art — all in one place,” Samsung said.

Samsung’s entry into the world of NFTs has come as a great number of well known brands and celebrities have jumped on the NFT bandwagon. Last year, single NFTs sold for multi-millions in crypto-assets and a number of NFT projects have gathered billion-dollar market caps.

What do you think about Samsung introducing the world’s first smart television with NFT technology? Let us know what you think about this subject in the comments section below.

As US Inflation Skyrockets White House Blames Monopolies, Economist Calls for Price Controls

As US Inflation Skyrockets White House Blames Monopolies, Economist Calls for Price Controls

U.S. inflation is red hot and a number of analysts and economists are predicting America will face further economic issues as politicians and the Biden administration blame corporations. This perspective on rising inflation has led finance authors like Isabella Weber to believe that price controls could ease America’s economic burdens.

Biden Administration Blames Inflation on Corporate Greed, Monopolistic Behavior

America is dealing with the worst inflation in over four decades and the White House thinks that tougher anti-monopoly policy could fix the situation. Furthermore, a few congressional leaders want to stifle online ecommerce giants like Amazon with proposals like Senator Amy Klobuchar’s (D-Minn.) American Innovation and Online Competition Act. Senator Tom Cotton’s (R-Ark.) Platform Competition and Opportunity Act (PCOA) is also aimed at reforming anti-trust laws.

The White House is blaming the loss of purchasing power in America on monopolistic behavior. Last month, the White House shared data that claimed four corporate entities in the meat-processing industry have been fueling inflation. NYU professor Marion Nestle told the New York Times in an interview that “their goal is to control the market so that they can control the price.” Despite the opinion from Biden’s administration, the North American Meat Institute says the claims are false.

Economist Believes It’s Time to Consider Price Controls

This has led to a raging debate and just recently finance author Isabella Weber published an opinion editorial via the Guardian that says “we have a powerful weapon to fight inflation: price controls. It’s time we consider it.” Weber’s editorial says that during World War II, U.S. economists “recommended strategic price controls.” Essentially, price controls restrict free market activity as mandated prices and restrictions are set in place and enforced by governments. It means that the manufacturer has no say in pricing goods and services and the government has full control.

Weber ideas are not very popular and even the Nobel laureate and economist Paul Krugman blasted the concept. In a now-deleted tweet, Krugman wrote: “I am not a free-market zealot. But this is truly stupid.” However, the following day, Krugman apologized to Weber and said he deleted the tweet. Krugman said:

Deleting, with extreme apologies, my tweet about Isabella Weber on price controls. No excuses. It’s always wrong to use that tone against anyone arguing in good faith, no matter how much you disagree — especially when there’s so much bad faith out there.

Price Control Concept Mocked, Harvard Economist Insists There’s ‘No Basis Whatsoever Thinking That Monopoly Power Has Increased’

Another individual mocked the price controls idea and said: “We’ve gone from ‘inflation is temporary’ to ‘f***, we need price controls’ in the space of a quarter.” “Anyone calling themselves an economist who is also a proponent of price controls deserves to be mocked, shamed, and spoken down to,” the Twitter account dubbed Hazlitt tweeted. The host of the “Smart People Sh*t” podcast Dennis Porter said:

Price controls are the thing every government does before the whole thing collapses.

Even the Democrat economist and senior official for the Obama administration, Larry Summers, insists bolstering antitrust laws will not help the U.S. economy. In a tweetstorm, Summers said: “The emerging claim that antitrust can combat inflation reflects ‘science denial.’ There are many areas like transitory inflation where serious economists differ. Antitrust as an anti-inflation strategy is not one of them.” Lastly, the Harvard economist stressed that monopolistic behavior has not accelerated like inflation.

“There is no basis whatsoever thinking that monopoly power has increased during the past year in which inflation has greatly accelerated,” Summers tweeted.

What do you think about the rising inflation in the U.S. and the White House blaming monopolistic behavior? What do you think about the concept of leveraging price controls? Let us know what you think about this subject in the comments section below.

Kickstarting the Bitcoin Network: A Look at the Genesis Block and Source Code That Sparked a Financial Revolution

Kickstarting the Bitcoin Network: A Look at the Genesis Block and Source Code That Sparked a Financial Revolution

13 years ago today, the anonymous creator of the Bitcoin protocol kickstarted the network by mining the genesis block. Satoshi started the genesis block on Saturday, January 3, 2009, at precisely 1:15 p.m. (EST), and since then more than 700,000 blocks have been mined into existence.

Kickstarting the Bitcoin Network

Today, bitcoiners and cryptocurrency advocates worldwide are celebrating the 13th anniversary of the Bitcoin network’s launch. On this day, 13 years ago, Bitcoin’s inventor Satoshi Nakamoto launched the genesis block, otherwise known as “block zero.” There are several unique characteristics of the genesis block that make it different than the blocks that followed.

For instance, the genesis block has a 50 BTC block reward subsidy that can never be spent. Block zero also has two more leading hex zeroes in the hash which was common for bitcoin blocks mined in the early days. The genesis block also contains a special message stored in the coinbase parameter. The message derives from a London Times January 3, 2009 headline and reads:

The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.

Seven-Day Theory, Timechain, Virtual Poker

Many people are unaware that the Bitcoin protocol did not produce another block until six days after the genesis block was mined. It is assumed Satoshi had a reason for this wait time, as it resembles something out of Machiavellian folklore or the King James Bible’s Genesis tale when the earth was created in seven days.

Satoshi Nakamoto mined the Bitcoin network with a standard personal computer or central processing unit (CPU). It is assumed Nakamoto was a Microsoft user, and the protocol’s codebase was written in the coding language C++. In addition to the coding language, users leveraged a Windows GUI mining application to mine BTC blocks back then.

When bitcoiners examined a pre-code release prior to Jan. 3, 2009, distributed to bitcointalk.org member “Cryddit,” a number of interesting findings were discovered. For instance, the document mentioned the term “bitcoin miner” for the first time, and it also referred to the blockchain as a “timechain.” The pre-release Bitcoin source code also contained an early framework for an IRC Client, a peer-to-peer (P2P) marketplace, and a virtual poker game.

Additionally, according to Bitcointalk.org user Deepceleron on Dec. 23, 2013, and a few other armchair sleuths, “there’s no source code to recover off Sourceforge through the Internet Archive, but here’s a screenshot from January 3, 2009, (same date as genesis), with an unreleased blockchain at block 213 and three other connections.” It is assumed by some people that Nakamoto and some early users may have tested the blockchain launch prior to January 3, 2009.

Bitcoin Protocol Sees Many Milestones in 13 Years, Computational Power Achieves Exponential Growth

Last year, on the 12th anniversary of the genesis block, a mystery miner spent 1,000 BTC from 2010 after letting the bitcoin sit idle for well over a decade. The 13th anniversary follows BTC’s lifetime price high on November 10, 2021, when the crypto asset tapped $69K per unit. Furthermore, on January 1, 2022, the network’s hashrate reached an all-time high of over 200 exahash per second.

On January 9, 2009, Bitcoin’s hashrate was around 68.96 kilohash per second (KH/s) or 68,000 (sixty-eight thousand) hashes per second (H/s). That also equates to around 0.068 megahash per second (MH/s) or 0.000068 gigahash per second (GH/s), too low of a denomination to measure in terahash per second (TH/s).

Whoever was mining at this time on January 9, 2009, and the following week (we assume it was Satoshi Nakamoto), was still dedicating more computational power than it would take to mine bitcoin (BTC) with paper and pencil (0.67 hashes per day) or a Nintendo Game Boy (0.8 H/s). Since that day on January 9, 2009, the network’s hashrate has grown exponentially stronger by a whopping two hundred sixty-seven quadrillion percent.

What do you think about the 13th anniversary of the Bitcoin network’s genesis block? Let us know what you think about this subject in the comments section below.

Ertha to Prime List Huobi on January 4th

Ertha’s Listing and TGE will be hosted on Huobi as a Prime List on the 4th of January, 2022. Listing on Huobi ensures that ERTHA Metaverse becomes the leading token in the GameFi & NFT space.

Ertha to Prime List Huobi on January 4th

Gaining a Primelist brings new levels of visibility and prestige to the project, introducing us to a wider demographic of investors and supporting the value and longevity of the token. It also provides the community a convenient way to access the $ERTHA token.

Huobi is the industry’s leading digital asset exchange in both liquidity and real-trading volume. It ensures that ERTHA continues to be the world’s most in-demand and highly anticipated Metaverse.

This news comes shortly after the conclusion of three record-breaking IGOs hosted by GameFi, Seedify, and RedKite. Each community pool sold out in under one minute, and to date, the project has raised $5.4 million from a number of world-renowned VC investors including:

  • LD Capital
  • Polygon Syndicate
  • OKEx Blockdream Ventures
  • Shima Capital
  • GD10
  • Genblock Capital
  • Dialectic
  • Momentum 6
  • X21
  • Terranova
  • AU21
  • Zen Capital
  • & Many others.

Ertha’s Gameplay

Ertha’s world is a complex and intricately designed playspace ripe for the creation of new governments, economies, and shaky alliances between its playerbase. The Metaverse is divided into 350,000 land plots, each of which collects taxes, fees, and other forms of revenue from the transactions taking place on them.

Ertha has been designed to replicate a real-life environment with a player-driven economy. A Player’s actions, whether political or environmental, in times of conflict or peace, can create real change and have far-reaching consequences.

Owners have a say in everything from international trade laws to taxes on the transactions being conducted in their territory. Just like in the real world, each HEX owner will profit from their real estate investment. You can see the mechanics in the new gameplay trailer.

If you’re to get involved in Ertha, or expand their portfolio of HEX plots, you can visit our marketplace where our land sale continues with the recent addition of South Africa and increased availability in Brazil and India.

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Argentinian Government Inquires About Energy Bitcoin Mining Companies Use Amidst Power Cuts


The Argentinian government is starting to inquire about the power consumption of bitcoin mining companies after some provinces in the country faced power cuts during the last days of 2021. Cammesa, the state-owned power wholesaler, has sent a memo to big power consumers to reveal whether they are mining cryptocurrency. If so, the companies should reveal their actual power consumption so a price hike can be coordinated, and they will need to invest in power infrastructure.

Argentinian Government Sets Sights on Bitcoin Mining

The Argentinian government is trying to pinpoint the exact power usage that bitcoin miners require from the national power grid, in order to take measures to improve the current power crisis the country is facing. Cammesa, the state-owned energy wholesaler, has sent a letter to all registered large-scale consumers, requesting they report the energy consumption of possible mining operations they may host, including the power consumed by what the company calls the “server group,” the refrigeration equipment to cool the miners, and other associated equipment.

According to local media reports, the Argentinian government — via the Undersecretary of Electric Energy — could be planning to take action to get miners to pay more for this energy, launching a new tariff scheme and making cryptocurrency miners invest in the power system directly. This with the objecting of relieving the stress these operations are said to be causing the national grid, which in some cases has faced power cuts affecting more than 80,000 citizens and provoking protests.

Covert Mining Operations

Local cryptocurrency experts explained some companies have migrated to offer their space to host cryptocurrency mining operations, something that has affected the grid negatively. An unnamed source disclosed that these businesses were common and that there are more than 200 farms of this kind in the country, with at least half of them operating in Buenos Aires, the Argentinian capital.

The reason for the covert operations popping up is said to be the profitability investors can achieve by avoiding taxes. Doing things covertly can speed up return on investment (ROI) times for mining investors, who can reportedly recover their investment in six months, compared to ROI times of up to 18 months for other operations.

Bitcoin mining companies have been eyeing Argentina due to its affordable power costs. One of these groups is Bitfarms, which is already building a mega-mining complex in a partnership with a private third party that will ostensibly provide the power without impairing the national grid.

What do you think about the new measures the Argentinian government is planning to take regarding bitcoin mining? Tell us in the comments section below.

Presidential Candidate in South Korea to Raise Funds in Cryptocurrency, Issue NFTs  

Presidential Candidate in South Korea to Raise Funds in Cryptocurrency, Issue NFTs  

Lee Jae-myung, nominated by the ruling party in South Korea for the upcoming presidential elections this spring, is preparing to raise funds in cryptocurrencies and issue non-fungible tokens for supporters. His campaign hopes that the initiative will woo young and tech-savvy Korean voters whose interest in digital assets is growing.

Ruling Party of South Korea to Collect Crypto Funds for Presidential Bid

The Democratic Party of Korea, the country’s leading political force, is going to raise election funds through cryptocurrency and issue receipts to donors in the form of non-fungible tokens (NFTs), Korean media reported on Sunday. The money will be used to finance the campaign of the party’s presidential nominee, Lee Jae-myung.

Bitcoin (BTC), ethereum (ETH), and up to three other cryptocurrencies are now under consideration. The final list of coins to be accepted will be announced in mid-January, the committee managing Lee’s run unveiled, quoted by the Korean Herald and the Yonhap news agency.

The NFTs will feature photos of the candidate and his election pledges to those who donate to the fundraising campaign for the presidential vote on March 9. The tokens are expected to serve as a new medium for communication with younger voters, especially the generation of digital natives. Campaign official Kim Nam-kook elaborated:

As the young generation in their 20s and 30s are interested in emerging technologies, including virtual assets, NFTs and the metaverse, this type of fundraising could appeal to them.

The reports note that the Democratic Party has been exploring ways to accept cryptocurrency donations and issue NFT receipts to highlight its bet on technology and attract millennial voters. Lee Kwang-jae, who heads the committee on future economy in the campaign team, said that the DP was told by the National Election Commission that it doesn’t violate any election laws by accepting crypto.

On Thursday, the lawmaker announced he will himself start to take digital coins from supporters. “With politics, we should break the regulations and foster new industries such as metaverse and NFT and give hope to the young people,” Lee Kwang-jae insisted.

Party officials claim that if Lee Jae-myung’s initiative is successful, he will become the world’s first candidate to issue NFTs as part of efforts to finance a presidential bid. The non-fungible tokens, representing political memorabilia, could also hold future value and serve as an investment for the donors. The donated digital money will be converted into Korean won through a crypto exchange and then deposited into the campaign’s account.

Do you expect more Korean politicians to start accepting cryptocurrency donations? Tell us in the comments section below.

Square Enix President Talks NFTs, Metaverse, Blockchain Gaming in New Year’s Letter

Square Enix

Yosuke Matsuda, president of Square Enix, a leading game developing company, has voiced his opinion about the rise of new technologies and trends like NFTs, blockchain gaming, and the metaverse concept in the gaming space. Matsuda explains the business strategy around these, detailing how Square Enix is moving to include them in their upcoming games.

Square Enix Reveals New Tech Strategy

Yosuke Matsuda, the president of Square Enix, the game company behind multibillion-dollar franchises like Final Fantasy, has detailed the next steps when it comes to including new, blockchain-based technologies in his plans for the new year. In a new year’s letter, Matsuda explains that these new technologies, including non-fungible tokens (NFTs) and the concept of the metaverse, had a rise during the last year, and that these will evolve to a more actionable phase during this year.

Matsuda remarked the importance of these to their overall business strategy, stating:

As this abstract concept begins to take concrete shape in the form of product and service offerings, I am hoping that it will bring about changes that have a more substantial impact on our business as well.

As a consequence of this, the president pointed that the company is conducting aggressive research and development (R&D) efforts and investments in areas that include blockchain gaming and artificial intelligence (AI).

The Incentives of Decentralized Gaming

Matsuda makes a distinction between traditional gaming (what he calls “play-for-fun”), and the new blockchain gaming that has been called “play-to-earn,” (P2E) giving the incentives that some of these games have to earn a token through game actions. This is what distinguishes centralized gaming, which focuses on a unidirectional data flow (from creator to consumer) to craft stories, from decentralized gaming, where the user will have a more involved role through the economy created by the token incentives.

This will enable modders, that are third parties that modify games in order to make them better or include more elements, to go from a purely contributional scheme to really earning by their constructions in the game. Matsuda explains:

From having fun to earning to contributing, a wide variety of motivations will inspire people to engage with games and connect with one another. It is blockchain-based tokens that will enable this. By designing viable token economies into our games, we will enable self-sustaining game growth.

However, the inclusion of these new elements in traditional gaming has been received negatively thus far. GSC Game World, a smaller company, had to recently abandon its intention of including NFT elements in Stalker 2, an upcoming game, after facing a negative reception from the public. Ubisoft, another leading developer, faced a similar problem, when the reveal of its NFT marketplace, Quartz, received 95% of negative reactions on Youtube.

What do you think about the vision of Square Enix about blockchain elements in traditional gaming? Tell us in the comments section below.

Ethereum Co-Founder Vitalik Buterin Talks Argentina, BCH, Stablecoins, Scaling in Tweetstorm

Ethereum Co-Founder Vitalik Buterin Talks Argentina, BCH, Stablecoins, Scaling in Tweetstorm

Vitalik Buterin, the co-founder of Ethereum, the second-biggest cryptocurrency by market cap, has reacted to some of his earlier beliefs in a new year’s tweetstorm. The developer touched on some subjects including the rise of cryptocurrency in Argentina and how stablecoins are thriving in the country, how ethereum scaling is still a pressing concern for him, and the performance of bitcoin cash.

Vitalik Buterin Reflects on Earlier Takes

Vitalik Buterin, the co-founder of Ethereum, touched on some of his earlier opinions about some subjects and how these fare against the current state of affairs of the crypto landscape in a new year’s tweetstorm. Buterin started by remembering an article that talked about how bitcoin could help Argentinians and Iranians back in 2019, where he concluded this was due to its uncensorable and international character instead of due to its scarcity that this could happen.

Buterin’s vision on this was “generally correct”, according to its views. On this, he stated:

My verdict: generally correct. Cryptocurrency adoption is high but stablecoin adoption is really high too; lots of businesses operate in USDT. Though of course, if USD itself starts showing more problems this could change.

The stablecoin sector has grown significantly this year, with Tether, the biggest stablecoin project, reaching a market cap of $78 billion. Decentralized alternatives like UST, the main stablecoin of the Terra environment, also thrived, reaching a market cap of $10 billion.

Scaling and Bitcoin Cash

On the other hand, Buterin recognizes he was wrong when he considered the problem of Ethereum scaling back in 2015. He shared a screenshot of an Ethereum slideshow roadmap where the time estimated to implement proof-of-stake (PoS) consensus was of 6 to 12 months. However, it was just last year that the beacon chain Ethereum 2.0, which will implement the change of proof of work to proof of stake consensus, was launched.

He attributes this to an underestimation of the complexity of software development and states that now, the Ethereum team is focused on simplicity, in the design of these solutions, and in the final product. Buterin also addressed his famous five cents commentary, stating:

I 100% stand by my comment that “the internet of money should not cost more than 5 cents per transaction”. That was the goal in 2017, and it’s still the goal now. It’s precisely why we’re spending so much time working on scalability.

He also commented on the current state of bitcoin cash (BCH), and while he was more inclined to support the big block side in the scaling war and was optimistic about the project, he now considers it “mostly a failure.” Extending on this, he explained the reasoning behind his current opinion, declaring that:

Communities formed around a rebellion, even if they have a good cause, often have a hard time long term, because they value bravery over competence and are united around resistance rather than a coherent way forward.

What do you think about the opinions of Vitalin Buterin on his early beliefs? Tell us in the comments section below.

Bored Ape, Mutant Ape Yacht Club NFT Sales Skyrocket — Floor Prices Spike More Than 40%

Bored Ape, Mutant Ape Yacht Club NFT Sales Skyrocket — Floor Prices Spike More Than 40%

After Eminem revealed that he purchased a Bored Ape Yacht Club (BAYC) non-fungible token (NFT) for $452K, both BAYC and Mutant Ape Yacht Club (MAYC) NFT sales have skyrocketed. Metrics indicate that on Sunday, January 2, 2022, MAYC’s seven-day trade volume of $93.02 million is up 93.41% and BAYC’s weekly volume of $78.26 million is up 150.97%.

BAYC and MAYC Weekly Volumes Jump 93% to 150% Higher

Bored Ape Yacht Club and Mutant Ape Yacht Club, are two particular NFT projects that have seen significant trade volume during the last seven days. Bored Ape Yacht Club (BAYC) is an NFT project that consists of 10,000 unique apes and today, 6,067 unique addresses hold at least one BAYC.

At the time of writing, one ethereum address holds roughly 105 BAYC NFTs. Statistics show that BAYC has seen $78.26 million in seven-day volume among 434 traders. While the BAYC volume is up 150.97%, the number of traders is also up 101.86%, alongside the 122.95% increase in BAYC sales.

Currently, all-time metrics indicate BAYC’s overall market valuation is $2.73 billion. At the time of writing, a single BAYC’s floor price is around $273,420 in ether but the average price today is $287,740 per BAYC.

While BAYC has seen a major boost, the sister project Mutant Ape Yacht Club (MAYC) NFT collection commands this week’s top volume. MAYC volume today is $93.02 million which is up 93.41%. There’s been 2,234 MAYC traders this week and an individual MAYC’s floor price is $59,180 per NFT, but MAYC’s are selling for $54,270 on average.

Mutant Apes Capture $707 Million in Volume — Bored Ape Kennel Club, Bored Ape Chemistry Club, Prime Ape Planet NFT Sales Spike

MAYC is an NFT collection of 20,000 mutant apes and the only way to create one is by tethering a BAYC to mutant serum or during the public sale’s mint process. MAYC’s rewarded BAYC holders with a mutant version that can be traded on the open market. To date, there’s been approximately 7,623 mutations.

Across 21,956 in lifetime MAYC sales, the project has seen 184,791 ether or $707 million in all-time volume. Furthermore, at the time of writing, there’s 11,148 unique ethereum wallets that hold at least one MAYC.

During the last seven days, ​​Bored Ape Yacht Club #3562 sold for 430 ether or $1.64 million five days ago. That was the most expensive BAYC sale this past week, while Eminem’s recent BAYC purchase was this week’s 30th most expensive BAYC sale.

On January 2, 2022, MAYC #2209 sold for 26.69 ether or $102K, MAYC #4627 sold for 26.26 ether or just over $100K the same day. In addition to BAYC and MAYC sales on the rise, Bored Ape Kennel Club, Bored Ape Chemistry Club, and Prime Ape Planet PAP all command today’s top NFT collection volume.

What do you think about BAYC and MAYC trade volume rising this week? Let us know what you think about this subject in the comments section below.