Bored Ape Yacht Club NFT Prices Are Plunging
The minimum trading price of top Ethereum NFT collections, including the Bored Ape Yacht Club and CryptoPunks, have plunged over the last 24 hours, continuing a trend of sharply falling prices for so-called “blue chip” NFTs. The floor prices of CryptoPunks and Bored Ape Yacht Club dropped by nearly 8% and 7% respectively over the last 24 hours, per CoinGecko data. Nansen’s Blue Chip 10 index of the top 10 NFT collections has dropped 31% year-to-date.
In recent weeks, the Bored Ape Yacht Club has sustained sharper losses, with the “floor price”—or the cheapest listed NFT on a secondary marketplace—falling nearly 19% over the last 30 days when measured in ETH. A Bored Ape starts at 36.4 ETH, or about $68,200. That’s the lowest Bored Ape floor price, in ETH terms, measured by NFT Price Floor since November 2021, when the project was just taking flight. Meanwhile, Mutant Ape Yacht Club prices are down 26% in ETH terms over the past 30 days, now starting at 7 ETH or $13,150. CryptoPunks prices have fallen less than 3% in the same timeframe. The Bored Ape price floor peaked at 152 ETH in April 2022.
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