Bored Ape Yacht Membership NFT Flooring Value Hit Historic Low, Down 92%

• BAYC NFT’s ground worth has crashed to 11.079 ETH tokens value $33,924.
• This ground peaked at 153.7 ETH in Could 2022, reflecting a 92% decline from the all-time excessive.
• BAYC NFTs skilled an uptick in gross sales inside the final 24 hours, with 156 gross sales executed.

The ground worth of blue-chip NFT collections of the Bored Ape Yacht Membership (BAYC) now displays a historic low amid the continued bearish sentiment within the crypto market. Colin Wu’s media lately referred to as consideration to this improvement in a submit on X.

Knowledge from the NFT monitoring platform CoinGecko revealed that BAYC NFT’s ground worth has crashed to 11.079 ETH tokens value $33,924. In the meantime, the highest bid worth was 10.63 ETH, equal to $32,782. 

Whereas the determine marked a 7.03% acquire within the final hour, it’s over 4% beneath the worth it bought for prior to now day. Furthermore, the ground worth has declined by a extra substantial 51.6% within the final 30 days and 79.8% over the previous yr.

Apparently, this ground worth peaked at 153.7 ETH as of Could 2022. The present worth of 11 ETH displays a staggering decline of 92.8% from the all-time excessive.

Moreover, the present ground worth now mirrors a few of BAYC’s lowest costs in its historical past. Particularly, BAYC NFTs had been final seen at 11 ETH in August 2021. Basically, the Yuga Labs-backed NFT challenge is now on the identical degree because it was 4 months after its preliminary launch.

Notably, Bored Ape Yacht Membership has skilled a substantial uptick in gross sales inside the final 24 hours. Particularly, 156 gross sales have been executed, marking a 13% improve from yesterday’s figures. These gross sales amounted to 1,632 ETH, valued at over $5 million.