Bored Ape Yacht Club has experienced a decline in the average price of its NFTs, according to OpenSea, reflecting a broader cooldown in the NFT market and an extended crypto winter that has impacted the price of Ethereum, which powers many NFT collections. Other top NFT collections, including MoonBirds, Azuki and Doodles have also experienced dips in recent months.
According to data analytics platform CoinGecko, BAYC’s floor price dropped to a low of 27.4 ETH, or about $53,000 on Sunday evening before rebounding slightly. The last time BAYC’s floor price dropped below 30 ETH was in October 2021, shortly before its floor price skyrocketed to new highs during the NFT boom. According to CoinGecko, BAYC once reached a floor price of 153.7 ETH, or about $430,000, in April 2022.
Source: Bored Ape Yacht Club NFT Collection Sees Floor Price Sink Below 30 ETH
