E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Oil prices stable as market weighs fuel stocks build amid supply concerns

June 30, 2022

Anil Singhvi Strategy on June 30: Support zone on Nifty is 15675-15750 and Bank Nifty is 33000-33125

June 30, 2022

Buy, Sell or Hold: What should investors do with AU Small Finance Bank, MMTC and Aavas Financiers?

June 30, 2022
Facebook Twitter Instagram
E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
Facebook Twitter Instagram
E Amazings
You are at:Home»Crypto»Bored Ape Floor Plunges Below $100K as NFT Prices Collapse
Crypto

Bored Ape Floor Plunges Below $100K as NFT Prices Collapse

Paul EasterBy Paul EasterJune 13, 2022No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email



Prices and sales of non-fungible tokens (NFTs) have continued to crash as bears completely take over the broader crypto market. Popular collections such as the revered Bored Ape Yacht Club (BAYC) were not spared either, and their floor prices have lost significant value in US dollars.

For clarity, the floor price represents the lowest price of an NFT collection and not the average price. In other words, it is the lowest price for purchasing a single non-fungible token from a collection.

Bored Ape Floor Price Drops Below $100k

According to data from NFT PRICE FLOOR, the floor price of Bored Apes has dropped below $100,000 for the first time in almost a year. At the time of writing, the lowest amount of BAYC was $87,000 (72 ETH), representing a 60% drop from the all-time high. The last time an Ape was traded around this price range was around August 2021.

Despite the drop, BAYC still maintains its position as the largest NFT project, with a market cap of about $1.7 billion.

Bored Ape Yacht Club is a popular NFT collection that dethroned Crypto Punks to become the world’s most valuable NFTs at the end of Q3, 2021.

Bored Apes with the highest rarity were sold at their peak for above $1.5 million, and the most expensive Ape was auctioned for $3.4 million (852.39 ETH) last October. During the same period, other less expensive Apes held a floor price above $250,000. However, since the recent market sell-off, BAYC sales and prices have steadily declined.

Aside from Bored Apes, other top-ranked NFT collections have shredded a significant portion of their floor prices. For instance, Crypto Punks, the second-largest NFT collection, currently has a floor price of $58,000 (48 ETH) compared to the $160,000 (66.9 ETH) in February.

Investors Leveraging the Opportunity

Interestingly, BAYC’s floor price falling below $100,000 has created a buying opportunity for investors looking to purchase the NFT at cheaper rates.

Over the last 24 hours, about 26 Apes were sold, representing a 116% increase from the previous day. BAYC’s daily volume also jumped by 50%, as over $2.6 million was trading in the last 24 hours.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.



Source link

Paul Easter

Related Posts

CBDCs Are Natural Evolution Necessary to Protect Fiat Monetary System: Swedish Central Banker  CBDCs an Evolution of Central Banks, Necessary to Protect Fiat Monetary System: Swedish Central Banker 

By Paul EasterJune 30, 2022

Market Selloffs Lead to Rising Inflows of USDC: Circle CEO

By Paul EasterJune 29, 2022

Crypto Winter ‘Weeded out’ Unnecessary Market Participants

By Paul EasterJune 29, 2022

Bitfury’s CEO Explains Why Bitcoin Is Proned for Upcoming Gains

By Paul EasterJune 29, 2022
Add A Comment

Comments are closed.

Our Picks

Oil prices stable as market weighs fuel stocks build amid supply concerns

By Paul EasterJune 30, 2022

Anil Singhvi Strategy on June 30: Support zone on Nifty is 15675-15750 and Bank Nifty is 33000-33125

By Paul EasterJune 30, 2022

Buy, Sell or Hold: What should investors do with AU Small Finance Bank, MMTC and Aavas Financiers?

By Paul EasterJune 30, 2022
Recent Posts
  • Oil prices stable as market weighs fuel stocks build amid supply concerns June 30, 2022
  • Anil Singhvi Strategy on June 30: Support zone on Nifty is 15675-15750 and Bank Nifty is 33000-33125 June 30, 2022
  • Buy, Sell or Hold: What should investors do with AU Small Finance Bank, MMTC and Aavas Financiers? June 30, 2022
  • Stocks to buy today: MTAR Tech, Apollo Tyres, Minda Industries and Bharti Airtel among list of stocks for profitable trade on June 30 June 30, 2022
  • Record-Setting Jumper Tosses Biomimicry Out The Window June 30, 2022
  • Udyami Bharat Programme: PM Narendra Modi to launch several schemes on June 30 to ramp up MSME sector June 30, 2022
  • Mumbai most expensive Indian city for expatriates; Hong Kong tops globally, reveals Mercer’s 2022 Cost of Living survey June 30, 2022
Archives
  • June 2022
Facebook Twitter Instagram Pinterest TikTok
  • Home
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.