An Ethereum-based token linked to the Bored Ape Yacht Club has crashed hard over the past week, falling alongside NFTs from Yuga Labs.
The Bored Ape Yacht Club NFT collection has seen a 90% decline in its floor price, reflecting a broader downturn in the Ethereum NFT market
Bored Apes were one of the most globally hyped NFTs in the last bull market, but have suffered amid a general lack of demand for NFT collections.
Bored Ape Yacht Club (BAYC), once a flagship collection in the Ethereum non-fungible token (NFT) market, witnessed its floor price tumble to a new low. Recent data from Blur indicates that the BAYC's floor price momentarily dipped below 11 Ethereum (ETH), settling at 10.89 ETH.
The Bored Ape Yacht Club collection's floor price is currently at 11.1 ETH, down 90% from its peak during the roaring NFT bull market.
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