Because of the persistent bearishness in the cryptocurrency market, the floor price of the Bored Ape Yacht Club's (BAYC) blue-chip NFT collections is currently at an all-time low. In a recent X post, Colin Wu's media highlighted this trend.
The floor price of BAYC NFT fell to 11.079 ETH tokens, or $33,924, according to data from the NFT tracking tool CoinGecko. In the meantime, 10.63 ETH, or $32,782, was the highest bid price.
The price is more than 4% less than what it sold for the previous day, even if the number showed a gain of 7.03% in the last hour. Additionally, there has been a significant 51.6% decrease in the floor price in the last 30 days and 79.8% over the past year.
Interestingly, as of May 2022, this floor price had reached its peak at 153.7 ETH. From the all-time high, the value of 11 ETH has dropped by an astounding 92.8%.
Furthermore, the floor price as of right now is comparable to some of BAYC's lowest prices ever. In August 2021, specifically, BAYC NFTs were last observed at 11 ETH. In essence, four months after its original introduction, the Yuga Labs-backed NFT initiative is back to where it started.
Interestingly, sales of Bored Ape Yacht Club have increased significantly in the past day. A 13% rise over the previous day's data has been achieved, with 156 sales in particular being executed. 1,632 ETH, or more than $5 million, were sold in these transactions.
April 2024, Cryptoniteuae