BAYC Floor Price Crashes to 67 ETH, Lowest in 8 Months
NFTs from the Bored Ape Yacht Collections have their floor prices reduced to levels not seen since the early days of January 2022. This comes amid fears of massive liquidations on a platform where Bored Ape NFT owners are able to put their apes as collateral.
Non-fungible tokens from the Bored Ape Yacht Club collection are going through a majorly rough patch. Apes are currently sitting on a floor price of 67 ETH across the board – something that we haven’t seen since the early days of January 2022. Unlike cryptocurrencies, non-fungible tokens are priced in a way where the floor price is the lowest possible price someone is willing to sell their NFTs for. Since they are non-fungible, there needs to be a buyer for each specific NFT, making the market so much more challenging in times of low liquidity.
Source
@Metaverse_Defi_Nfts_Trading
