{"id":9082,"date":"2023-07-04T18:48:45","date_gmt":"2023-07-04T18:48:45","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/07\/04\/bored-ape-yacht-club-nfts-plunge-touching-depths-unseen-since-2021\/"},"modified":"2023-07-04T18:48:45","modified_gmt":"2023-07-04T18:48:45","slug":"bored-ape-yacht-club-nfts-plunge-touching-depths-unseen-since-2021","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/07\/04\/bored-ape-yacht-club-nfts-plunge-touching-depths-unseen-since-2021\/","title":{"rendered":"Bored Ape Yacht Club NFTs Plunge, Touching Depths Unseen Since 2021"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The iconic BAYC NFT collection\u2019s floor price reached 27.4 ETH (about $53k) \u2013 the lowest in 20 months.<\/p>\n<p><strong>TL;DR<\/strong><\/p>\n<ul>\n<li>The floor price of <a href=\"https:\/\/nftevening.com\/bored-ape-yacht-club-the-avatar-collectibles-with-the-biggest-community\/\" target=\"_blank\" rel=\"noopener\">Bored Ape Yacht Club<\/a> NFTs dropped below 30 ETH, reaching its lowest point since October 2021.<\/li>\n<li>The drop represents a significant decrease from the historic high of 153.7 ETH in April 2022, marking a 90% decline.<\/li>\n<li>The NFT market as a whole has experienced a tough month in June, and the Blur marketplace may have contributed to the decline.<\/li>\n<\/ul>\n<figure id=\"attachment_113527\" aria-describedby=\"caption-attachment-113527\" style=\"width: 1015px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-113527\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-nft-e1688496292494.png.webp\" alt=\"image of a sad BAYC NFT\" width=\"1015\" height=\"811\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-nft-e1688496292494.png.webp 512w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-nft-e1688496292494-300x240.png.webp 300w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-nft-e1688496292494-70x56.png.webp 70w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-nft-e1688496292494-150x120.png.webp 150w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-nft-e1688496292494-450x359.png.webp 450w\" sizes=\"(max-width: 1015px) 100vw, 1015px\"\/><\/noscript><figcaption id=\"caption-attachment-113527\" class=\"wp-caption-text\">The BAYC NFT collection\u2019s floor price reported its lowest figure in over 20 months.<\/figcaption><\/figure>\n<h2><span id=\"How_Much_Did_the_BAYC_NFTs_Floor_Price_Drop\">How Much Did the BAYC NFTs\u2019 Floor Price Drop?<\/span><\/h2>\n<p>Last weekend, the Bored Ape Yacht Club NFTs\u2019 floor price suddenly dropped below 30 ETH, CoinGecko analytics showed. Surprisingly, the BAYC floor price hasn\u2019t been this low since October 2021.<\/p>\n<p>Of course, the news shocked the NFT community. After all, 24.7 ETH is hugely lower than the historic 153.7 ETH floor price recorded in April 2022. The visual representation below showcases the collection\u2019s drastic decrease in value:<\/p>\n<figure id=\"attachment_113525\" aria-describedby=\"caption-attachment-113525\" style=\"width: 719px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-113525 size-full perfmatters-lazy\" alt=\"Twitter screenshot of the BAYC floor price decrease\" width=\"719\" height=\"596\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-tweet.png.webp\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-tweet.png.webp 719w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-tweet-300x249.png.webp 300w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-tweet-68x56.png.webp 68w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-tweet-150x124.png.webp 150w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-tweet-450x373.png.webp 450w\" data-sizes=\"(max-width: 719px) 100vw, 719px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-113525 size-full\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-tweet.png.webp\" alt=\"Twitter screenshot of the BAYC floor price decrease\" width=\"719\" height=\"596\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-tweet.png.webp 719w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-tweet-300x249.png.webp 300w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-tweet-68x56.png.webp 68w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-tweet-150x124.png.webp 150w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-tweet-450x373.png.webp 450w\" sizes=\"(max-width: 719px) 100vw, 719px\"\/><\/noscript><figcaption id=\"caption-attachment-113525\" class=\"wp-caption-text\">The Bored Ape Yacht Club suffered a 90% drop in its floor price compared to April 2022. Credit: @WClementeIII\/Twitter<\/figcaption><\/figure>\n<p>However, the Apes were doing reasonably well earlier in June with a 64 ETH starting price (about $126,000). At the time of writing, the collection is slowly recovering from the drop with a 31.5 ETH floor price. Data from <a href=\"https:\/\/www.coingecko.com\/en\/nft\/bored-ape-yacht-club\" target=\"_blank\" rel=\"noopener\">CoinGecko<\/a> also shows a 2,906 ETH trading volume over the past 24 hours.<\/p>\n<p>\u00a0<\/p>\n<h2><span id=\"What_About_Other_Blue-Chip_NFT_Collections\">What About Other Blue-Chip NFT Collections?<\/span><\/h2>\n<p>BAYC isn\u2019t the only NFT collection dealing with a floor price drop. In fact, June has been a tough month for the NFT market overall. The most recent CryptoSlam data reported a $31.3 million drop in NFT trading volume in June compared to May.<\/p>\n<p>In other words, many collectors are still struggling with the bear market, including A-list stars. The perfect example is Justin Bieber, who bought a BAYC NFT in January 2022 for a staggering $1.31 million:<\/p>\n<figure id=\"attachment_113526\" aria-describedby=\"caption-attachment-113526\" style=\"width: 572px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-113526 size-full perfmatters-lazy\" alt=\"Twitter screenshot of Justin Bieber's Bored Ape NFT \" width=\"572\" height=\"775\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bored-ape-yacht-club-justin-bieber.png.webp\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bored-ape-yacht-club-justin-bieber.png.webp 572w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bored-ape-yacht-club-justin-bieber-221x300.png.webp 221w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bored-ape-yacht-club-justin-bieber-41x56.png.webp 41w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bored-ape-yacht-club-justin-bieber-150x203.png.webp 150w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bored-ape-yacht-club-justin-bieber-450x610.png.webp 450w\" data-sizes=\"(max-width: 572px) 100vw, 572px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-113526 size-full\" src=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bored-ape-yacht-club-justin-bieber.png.webp\" alt=\"Twitter screenshot of Justin Bieber's Bored Ape NFT \" width=\"572\" height=\"775\" srcset=\"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bored-ape-yacht-club-justin-bieber.png.webp 572w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bored-ape-yacht-club-justin-bieber-221x300.png.webp 221w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bored-ape-yacht-club-justin-bieber-41x56.png.webp 41w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bored-ape-yacht-club-justin-bieber-150x203.png.webp 150w,  https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bored-ape-yacht-club-justin-bieber-450x610.png.webp 450w\" sizes=\"(max-width: 572px) 100vw, 572px\"\/><\/noscript><figcaption id=\"caption-attachment-113526\" class=\"wp-caption-text\">Justin Bieber\u2019s Bored Ape NFT is worth half the price he bought it for last year. Credit: Twitter<\/figcaption><\/figure>\n<p>Some NFT traders and analysts believe this drop in sales has something to do with the new NFT marketplace, Blur. Due to their airdrop campaigns and zero royalty fee policy, the new platform had a whopping 65% market share in May alone. However, OpenSea still has the most traders \u2013 377k compared to the 36,673 active users on Blur. Right now, traders are still debating over <a href=\"https:\/\/nftevening.com\/blur-vs-opensea-who-really-won-the-marketplace-wars\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">the Blur \u2013 OpenSea digital war.<\/a><\/p>\n<p>In essence, this marketplace war may have affected the NFT market in June, and it might be a while until it gets back on track.<\/p>\n<p><iframe data-test-id=\"beehiiv-embed\" width=\"100%\" height=\"320\" frameborder=\"0\" scrolling=\"no\" style=\"border-radius: 4px; border: 2px solid #e5e7eb; margin: 0; background-color: transparent;\" class=\"perfmatters-lazy\" data-src=\"https:\/\/embeds.beehiiv.com\/37fed65e-f01c-4c4c-b8f1-1b71da0be0a4\"><\/iframe><noscript><iframe loading=\"lazy\" src=\"https:\/\/embeds.beehiiv.com\/37fed65e-f01c-4c4c-b8f1-1b71da0be0a4\" data-test-id=\"beehiiv-embed\" width=\"100%\" height=\"320\" frameborder=\"0\" scrolling=\"no\" style=\"border-radius: 4px; border: 2px solid #e5e7eb; margin: 0; background-color: transparent;\"><\/iframe><\/noscript><\/p>\n<div class=\"bottom-text__wrapper post-content\">\n<p>\u00a0<\/p>\n<hr\/>\n<p><em>All investment\/financial opinions expressed by NFTevening.com are not recommendations.<\/em><\/p>\n<p><em>This article is educational material.<\/em><\/p>\n<p><em>As always, make your own research prior to making any kind of investment.<\/em><\/p>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/nftevening.com\/bored-ape-yacht-club-nfts-plunge-touching-depths-unseen-since-2021\/\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The iconic BAYC NFT collection\u2019s floor price reached 27.4 ETH (about $53k) \u2013 the lowest in 20 months. TL;DR The floor price of Bored Ape Yacht Club NFTs dropped below 30 ETH, reaching its lowest point since October 2021. The drop represents a significant decrease from the historic high of 153.7 ETH in April 2022, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[9],"tags":[21],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nftevening.com\/wp-content\/uploads\/2023\/07\/bayc-nft-e1688496292494.png","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/9082"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=9082"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/9082\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/9083"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=9082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=9082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=9082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}