- Bored Ape Yacht Club’s NFT floor price drops below 20 ETH, the lowest since July 2023.
- Ethereum’s upward trajectory contrasts with the declining average prices in top NFT collections.
- BAYC’s trading volume surges by over 329%, ranking the 6th largest in NFT sales.
Bored Ape Yacht Club’s (BAYC) NFT collection experienced a significant decline in its floor price, dropping below 20 ETH to 17.99 ETH (roughly $66,000). On the other hand, the price of Ethereum is on an upward trajectory and has reached $3,717.
Floor price is a metric used to gauge the popularity of an NFT project at a particular time. It represents the lowest price a seller is willing to accept for an NFT in a collection and can vary slightly across platforms.
CoinGecko reported that BAYC’s floor price reached a low of 17.99 ETH, or approximately $70,000, on Sunday before partially rebounding. The last time BAYC’s floor price dropped below 30 ETH was in July 2024, just before the NFT boom significantly increased its floor price. In April 2022, BAYC’s floor price rose to 153.7 ETH, or around $430,000, according to CoinGecko.
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