Cryptocurrencynfts News

"ApeCoin, BAYC, and MAYC: Understanding Their Decline Compared to Bitcoin NFTs in Q4 2023"

ApeCoin reported a positive Q4, but its price declined as interest in Yuga Labs NFTs waned in comparison to Bitcoin-based NFTs. The NFT sector became more competitive, impacting APE's performance, with BAYC and MAYC not achieving sales volumes comparable to other NFT collections. APE's price declined, network growth fell, and the MVRV ratio indicated most holders were not profitable, while the Long/Short difference grew, suggesting long-term holders exceeded short-term holders.