Bored Ape NFTs Face Steep Declines in Broad Cryptoasset Rout
Popular NFT collections, including the celebrity-favored Bored Ape Yacht Club (BAYC), are being hit hard as the crypto market sinks. Bored Ape NFTs Face Steep Declines in Broad Cryptoasset Rout.
The NFT Index, which tracks the performance of nonfungible tokens and is weighted based on each token’s circulating supply, fell about 23% in the past 24 hours. The BAYC NFTs saw a 25% decrease in average price in the same period, according to data from DappRadar and CoinMarketCap. Some of these tokens sold for millions of dollars in recent months.
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