Floor Price of Bored Ape Yacht Club (BAYC) Falls Below 50 ETH for the First Time Since Mid-December 2021.
Floor price of Bored Ape Yacht Club (BAYC)
In a recent development in the world of NFTs, the floor price of Bored Ape Yacht Club (BAYC) has fallen below 50 ETH for the first time since mid-December 2021. According to nftgo.io/en/collection/, blue-chip NFTs such as BAYC, Wrapped CryptoPunks, and MAYC have all seen a decline of over 10% in the past seven days.
This drop in value has led to speculation in the NFT community as to the reasons behind the decline. One theory suggests that smart money is selling off BAYC in favor of the stronger apex asset, Milady. Others believe that the selling pressure could be related to the latest launch of Koda NFT by Yuga Labs.
Despite the decline in value, some investors see this as a buying opportunity. The Otherside Koda by OthersideMeta and Yuga Labs is being touted as a good buy for NFT enthusiasts.
It’s worth noting that the volume and floors of BAYC were allegedly manipulated by two individuals who were sending JPEGs back and forth. This could have played a role in the recent drop in value.
The NFT market is known for its volatility, and such fluctuations in value are not uncommon. However, the recent decline in value of blue-chip NFTs such as BAYC, Wrapped CryptoPunks, and MAYC is significant and has caught the attention of many in the NFT community.