Trading volumes for the Yuga Labs Mutant Ape Yacht Club (MAYC) and Bored Ape Yacht Club (BAYC) NFT collections have increased over the past 24 hours. Following the news of an SEC investigation against Yuga Labs.
MAYC NFT had a transaction volume of $1.02 million, an increase of more than 300% across various exchanges.informationfrom CryptoSlam
Like BAYC, trading volume increased 86% per day at $1.8 million.
The move comes shortly after learning that NFT collection creator Yuga Labs was being investigated by the U.S. Securities and Exchange Commission. whether the company’s proposal violates federal law
openinginvestigationIt’s not conclusive, and Yuga Labs has not been charged with any wrongdoing. The investigation may not result in a legal battle. It is just under the trend of extensive scrutiny by regulators on Crypto-related activities.
Thomas Bialek, research analyst at The Block Research, said the latest volume increase in these collections may indicate a “A panic sell-off” after the news.
OpenSea Trading for MAYC showOf the 37 MAYC sales that took place in the past day, 24 NFTs were sold by the owner at a lower price than the quoted price. This shows a potential sell-off trend.
Meanwhile, floor prices for BAYC and MAYC have dropped slightly. Both collections were down 2.6% and 4.9%, respectively, accordingly.informationFrom NFT Price Floor
Mutant Ape’s NFT volume jumps 300% after news of an SEC investigation against Yuga Labs appeared first on Bitcoin Addict.