Bored Ape Yacht Club NFT Floor Price Hit Historic Low, Down 92%
Bored Ape Yacht Club NFT Floor Price Hit Historic Low, Down 92%
Admin 16 Apr, 2024

The floor price of blue-chip NFT collections of the Bored Ape Yacht Club (BAYC) now reflects a historic low amid the ongoing bearish sentiment in the crypto market. Colin Wu’s media recently called attention to this development in a post on X.

Data from the NFT tracking platform CoinGecko revealed that BAYC NFT’s floor price has crashed to 11.079 ETH tokens worth $33,924. Meanwhile, the top bid price was 10.63 ETH, equivalent to $32,782. 

While the figure marked a 7.03% gain in the last hour, it is over 4% below the price it sold for in the past day. Moreover, the floor price has declined by a more substantial 51.6% in the last 30 days and 79.8% over the past year.

Interestingly, this floor price peaked at 153.7 ETH as of May 2022. The current value of 11 ETH reflects a staggering decline of 92.8% from the all-time high.

Additionally, the current floor price now mirrors some of BAYC’s lowest prices in its history. Specifically, BAYC NFTs were last seen at 11 ETH in August 2021. Essentially, the Yuga Labs-backed NFT project is now at the same level as it was four months after its initial launch.

Notably, Bored Ape Yacht Club has experienced a considerable uptick in sales within the last 24 hours. In particular, 156 sales have been executed, marking a 13% increase from the previous day’s figures. These sales amounted to 1,632 ETH, valued at over $5 million.