Bored Ape Yacht Club NFT collection plummets over 90% from $600k peak
During the weekend, the NFT market witnessed a sharp decline in the floor prices of Yuga Labs’ Bored Ape Yacht Club and Mutant Ape Yacht Club collection s, mirroring the ongoing crash in NFT floor prices. The floor price for Bored Ape Yacht Club dropped from 38 ether ($73,000) on Juse 30 to below 28 ether ($53,500) on July 2 as reported by OpenSea data. An ongoing downward trend In a July 2 tweet, Will Clemente, the co-founder of Reflexivity Research, a digital asset research firm, highlights that the decrease in floor price is actually part of a 90% decline in the collection . The Bored Ape Yacht Club NFT collection is now down over 90% from its $600K high pic.twitter.com/TZVuXFl9UZ — Will Clemente (@WClementeIII) July 2, 2023 This decline occurred shortly after the creators of the well-known Azuki NFTs launched a new collection that faced criticism for its striking resemblance to their previous collection . As a result, the Bored Ape NFTs witnessed a floor price ...