BAYC NFT floor price drops 90% from $600,000 in 18 months
The floor price of Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs) is down by 90% in roughly 18 months as the NFT scene grapples with bear market conditions that spilled over from 2022. BAYC floor price falling The BAYC NFTs, a collection of 10,000 unique Bored Ape NFTs, have been significantly impacted by the current bear market conditions, which can be traced to last year. The BAYC NFT floor price, which once soared to $600,000 in 2021, is now down by over 90%. According to analytics from OpenSea, an NFT marketplace, BAYC has a floor price of 36.5 ETH, a slight increment from 27.6 ETH posted in early July when it fell to its yearly low. The Bored Ape Yacht Club NFT collection is now down over 90% from its $600K high pic.twitter.com/TZVuXFl9UZ — Will Clemente (@WClementeIII) July 2, 2023 Bear markets tend to significantly influence all digital assets, including NFTs. During such periods, market participants often sell their holdings due to fear, uncertain...