Many Long-Term BAYC Holders Sell Their NFTs in the Last 7 Days

• According to Nansen, many long-term BAYC holders sold their NFTs.
• Nansen also revealed that the number of wallets holding at least one BAYC is declining.
• There has been a significant drop in NFT activities since 2023.

According to Nansen, a blockchain data and research platform, many long-term Bored Ape Yacht Club (BAYC) NFT holders sold their NFTs in the last seven days. In a Twitter post, the research platform showed that 36 long-term holders had their BAYC NFTs for over one year.

Over the last 7 days, many longtime BAYC holders have sold their NFTs

39 of them have their BAYC for over a year pic.twitter.com/jIuGBBjZMf

— Nansen (@nansen_ai) June 23, 2023

Nansen also revealed that the number of wallets holding at least one BAYC is declining. As of Nansen’s post, that number had fallen below its October 2021 level. That reveals the fading interest in an industry perceived as a new frontier in emerging technologies only a few months ago.

According to data from Dune Analytics, there has been a significant drop in NFT activities since 2023. The drop cuts across unique wallets trading NFTs, the number of NFT traders, and the marketplace activities based …

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