This morning, “Boring Ape” BAYC closed the Sewer Pass, declaring that the Dookey Dash game has come to an end.
According to the “BAYC Holder Analysis” report released by the NFT research organization Sealaunch , in the past 7 days, the NFT most bought and sold by BAYC holders was Sewer Pass, with a transaction volume of more than 2,400 ETH.
There are also some interesting on-chain analysis of BAYC holders in the report. For example, who are the largest holders of BAYC and how much MAYC and BAKC do they own? Which BAYC has the most transactions? Which NFT markets are the main trading markets of BAYC? What other NFT collectibles do BAYC holders hold? (Note: The following data is from Dune.)
1. How many BAYC does each wallet hold?
Currently, there are 5,963 independent holders of BAYC. Among them, 5493 (accounting for 92.1%) BAYC holders only hold one or two BAYC in their wallets; only 16 addresses (accounting for 0.2%) have more than 20 BAYC in their wallets.
The distribution of wallet addresses shows that BAYC has a broad community in a “pyramidal” shape – a large proportion of small holders and a low proportion of large holders. And, overall, the proportion of BYAC independent holders (59.63%) is also higher than other popular NFT projects, such as Azuki (50%), CloneX (50%) and cryptocurrency Punks (37%), Indicates a larger community.
2. Who are the largest holders of BAYC (how many MAYC and BAKC do they own)?
BendDAO, the NFT mortgage lending agreement, is the largest holder of BAYC and MAYC, holding a total of 620 BAYC and about 652 MAYC; NFT pledge and lending agreement ParaSpace ranks second, with 180 BAYC and 362 MAYC; NFT collection Home dingaling.eth currently holds 101 BAYC, 99 MAYC and 110 MAKC, which makes him the 4th largest holder of BAYC – if we exclude NFT financial agreement holdings, he is actually the 2nd largest Someone; “Brother Machi” MachiBigBrother is also a well-known BAYC holder, the 11th holder of BAYC+MAYC+BAKC, holding a total of 99 NFTs (54 BAYC, 43 MAYC, 2 BAKC).
The fact that the largest holder of BAYC is an NFT financial protocol also reflects its status as a high-value blue-chip NFT, widely accepted as loan collateral. However, the high concentration of assets in these agreements will also increase market volatility, especially during market downturns, and a large number of BAYC liquidations may have a negative impact on prices.
3. What are BAYC holders buying and selling?
In the past week, BAYC holders bought and sold the most Sewer Passes – which can authorize users to enter and interact with Dookey Dash, of which 215 were actively bought (695 ETH), and 502 were actively sold (1748 ETH) . (Note: According to Opensea data, the Sewer Pass transaction volume in the past week was 7622 ETH, which also means that the vast majority of transaction volume was contributed by non-BAYC holders.)
The second most purchased series is Jack Butcher’s “Checks – VV Edition”, with a purchase volume of 185 ETH; the “10 KTF Stockroom” series is the third most popular NFT collection for BAYC holders. Others gaining attention include Otherdeed for Otherside, Dooplicator, MAYC and BAKC. In general, the main focus of BAYC holders’ transactions is still related to Yuga labs.
4. Which is the most expensive BAYC? Which BAYC changed hands the most?
On the sales list, the top five sales all exceeded $2 million (over 600 ETH each). Among them, the most expensive BAYC collection is #3749, which was purchased by The Sandbox for nearly $3 million (740 ETH) more than a year ago; the second is #232, which was purchased by Chain Protocol CEO Deepak Thapliyal for 1080 ETH – the highest BAYC denominated in ETH.
BAYC #1156 was sold the most times, it was traded 20 times; BAYC #4962 and #6501 were traded 15 times, BAYC #9109 and #8850 were traded 14 times.
5. Which NFT platform do BAYC holders like the most?
In the past, BAYC was basically traded on OpenSea. But with the launch of the emerging NFT market, OpenSea’s share began to be ceded to LooksRare, X2Y2, and the recently popular Blur.
The data shows that in the past 120 days, about 50% of the BAYC transaction volume occurred on Blur, while the BAYC transaction volume on OpenSea accounted for only 22%, and X2Y2 accounted for about 20%. (Note: One possible reason is that the Blur airdrop stimulated BAYC holders to place pending orders.)
This also draws the conclusion from the side that OpenSea is less dependent on blue-chip NFT transactions, such as BAYC and other Yuga’s NFTs, while Blur is more dependent-about 43% of Blur’s transaction volume is contributed by blue chips at the time of writing.
6. What other collections do BAYC holders hold?
BAYC holders are like collecting jigsaw puzzles. They are very enthusiastic about Yuga’s NFT. BAKC and MAYC are their most held collections; followed by ENS, Artblocks, CloneX, 10 KTF, Cool Cats, World of Women Galaxy and Moonbirds.
The above is only the first part of the analysis on the behavior of BAYC holders on the chain. Next, I will discuss the NFT financialization of BAYC and the use of DeFi by BAYC holders, so stay tuned.