Bored Ape Yacht Club NFT Floor Price Hit Historic Low, Down 92%

The floor price of Bored Ape Yacht Club ( #BAYC ) NFTs, a blue-chip collection in the crypto space, has plunged to historic lows reflecting the ongoing bearish sentiment.

Current floor price: 11.079 ETH ($33,924), a 7.03% increase in the last hour but a significant decline over larger timeframes:
4% down in the past day51.6% down in the past month79.8% down in the past year.

This is a staggering 92.8% decline from its all-time high of 153.7 $ETH in May 2022.

Interestingly, this floor price mirrors BAYC's lowest points, last seen at 11 ETH in August 2021, four months after its launch.
Despite the crash, BAYC sales have seen a 13% increase in the last 24 hours, with 156 sales amounting to over 1,632 ETH ($5 million).

Is this a sign of a potential market turnaround, or will BAYC prices continue to fall?
Only time will tell, but this development highlights the current volatility in the #NFT market.

#Boredape #cryptocrash #Ethereum