Bored Ape Yacht Club Floor Price Down 25 Percent This Week
Bored Ape Yacht Club, arguably the bluest chip in NFTs, is down nearly 25 percent in the past seven days, hitting a floor price in ETH it hasn't seen since December of 2021 and a USD price (about $61,000) it hasn't seen since August of 2021.
BAYC's floor price is now around 50 ETH across OpenSea, x2y2, and Blur marketplaces. On OpenSea, where the floor price is 52 ETH, there have been 11 WETH offers accepted in the past 24 hours.
BAYC has also been passed by CryptoPunks for the No. 1 spot on Lucky Trader's NFT Power Rankings. All this despite the news of Yuga Labs (parent company of both Punks and Apes) and its acquisition of Beeple-backed 10KTF.
Most of the NFT market is down as the crypto world continues to deal with the after-effects of the bankruptcy of FTX, one of the largest exchanges in the world.