A Bored Ape Yacht Club spinoff is now the hottest NFT collection after 500% trading jump

A Bored Ape Yacht Club spinoff is now the hottest NFT collection after 500% trading jump
  • The trading volume of Mutant Ape Yacht Club NFTs has surged by about 500% over the past seven days.
  • The average price of a Mutant Ape increased from about $32,000 to about $50,000 during that time.
  • The series is a spinoff of the popular Bored Ape Yacht Club NFTs, which have garnered high-profile, celebrity backing.
  • Non-fungible token traders are clamoring for a spinoff of the famed Bored Ape Yacht Club collection.

    Mutant Ape Yacht Club NFT trading volume on the secondary market surged about 500% over the past week to nearly $71 million, according to CryptoSlam data cited by Decrypt, which said it's most popular tracked project during that period.

    In addition, the average price of a Mutant Ape NFT rose to about 12.3 ETH from 8 ETH (from about $32,000 to about $50,250) over the last seven days.

    There are 20,000 total avatar images available in the project, in varying degrees of rarity. And one of the Ethereum-based NFTs -- a Mega Mutant Serum NFT -- sold for about $3.6 million worth of ETH.

    The Mutant Ape spinoff series is mimicking the success of the Bored Ape NFTs, which have enjoyed high-profile backing from the likes of Jimmy Fallon, , and Post Malone. Last week,

    The NFT market has boomed in 2021, with an estimated $22 billion in trading volume year to date, propelled by the ongoing cryptocurrency surge from the last two years.

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