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.
Author Bio
TD Marquis
A veteran journalist and editor with more than a decade's worth of experience, TD helped a small community newspaper in Vermont win a New England Newspaper Association Right to Know Award in 2014. TD helped compile five years' worth of invoices to uncover a long-established practice of small-town government officials paying themselves six figures to do small jobs around town.
TD discovered NFTs with Top Shot in 2021 and his first NFTs on ETH were saving two Mooncats. He is now the proud owner of Rowhome #61 and 1,300 other NFTs of questionable value.
He also sent 4 ETH to a fake Mekaverse site and wants Lucky Trader readers to avoid the same fate.
Disclaimer: The author or members of the Lucky Trader staff may own NFTs discussed in this post. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. AI may have assisted in the creation of this content.
