Goerli Test Network’s Bored Ape Yacht Club Becomes Highly Priced
On February 26, according to the data of OpenSea Testnets, the floor price of the Goerli test network version BAYC BoredApeYachtClub – GOERLI – TEST broke thro…
On February 26, according to the data of OpenSea Testnets, the floor price of the Goerli test network version BAYC BoredApeYachtClub – GOERLI – TEST broke through 30 ETH for a short time, and is now quoted at 30 ETH, with the floor price rising by 1525% in 24 hours.
Goerli test screen BAYC floor price exceeded 30 ETH in a short time
Interpretation of the news:
The latest update from OpenSea Testnets shows that the floor price of the Goerli test network’s version of the Bored Ape Yacht Club (BAYC) has surged to an unprecedented value of 30 ETH for a brief moment. Even though this thrill was short-lived, the floor price has settled at 30 ETH, signifying a rapid increase in value by 1525% in just 24 hours.
BAYC has created quite a stir amongst cryptocurrency enthusiasts since its inception in April 2021. It is a collection of 10,000 algorithmically generated unique digital apes, each with unique traits, clothing, and accessories. The BAYC is built on the Ethereum blockchain, and its ownership is exclusively authenticated by blockchain technology. This means that for any transfer of ownership, a secure and transparent blockchain transaction occurs, which makes it nearly impossible to counterfeit or replicate.
The value of BAYC has been soaring over the past few months, and the recent announcement that Visa had purchased CryptoPunk NFT for $150,000 fueled the surge even more. This is because BAYC is similar to CryptoPunks, which are considered the ‘granddaddy’ of NFTs, with a more intricate design and added functionality. The growing popularity of this novel digital asset may be due to its uniqueness, sophistication, and inflexibility. This means that it has a limited number and cannot be replicated, increasing its overall value.
The Goerli test network is one of the Ethereum blockchain’s test versions, which allows developers to test the smart contract for errors, vulnerabilities, and security features before deploying them onto the main Ethereum network. Developers can execute the smart contract and evaluate it against high traffic simulations without risking the mainnet’s security. Therefore, the BAYC’s floor price reaching 30 ETH in such a short time hints that it is a coveted asset, with people willing to invest in it.
In conclusion, BAYC’s astronomical rise in value, reaching a floor price of 30 ETH in Goerli test network, indicates the growing popularity and acceptance of NFTs as a form of digital ownership. With this, the world is seeing an increase in digital asset transactions based on blockchain technology. It is an exciting space that cryptocurrencies have had for some time, and the growing popularity of NFTs such as BAYC is sure to make a significant mark in the digital asset space.
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