The floor price of Bored Apes NFT has dropped by -90% from their all-time high, reaching the lowest price since August 2021.
Summary
Bored Apes NFT and the 90% drop in price floor from the all-time high
The floor price of the famous Bored Apes NFT seems to be slipping into the deep abyss, to the point that a drop of -90% from their all-time high of 128 ETH has been calculated, recorded in May 2022.
And indeed, according to what reported, yesterday the price floor of Bored Apes NFT reached 10.02 ETH (equivalent to about $30,000). At the time of writing, the price floor has risen to 11.07 ETH.
To give a practical example, yesterday, Bored Apes #1697 and #2678 were sold for 10.02 ETH.
Looking at the overall chart of the floor price of the NFT collection Bored Ape Yacht Club (BAYC), it seems that this price level has not been touched since August 2021.
Nevertheless, looking instead at the overall ranking of NFT collections, the Bored Apes monkeys remain in second place with a market capitalization of 110,660 ETH.
At the top, instead, is the NFT CryptoPunks collection with a market capitalization of 409,800 ETH.
Bored Apes NFT and events while there is a drop in the floor price
While the floor price of the NFT collection is slipping down, the Web3 brand of Bored Ape Yacht Club seems to be busy always being present at global events.
By taking a look at its official X profile, in fact, it seems that only in this month of April, the famous NFT monkeys will be present both at Token2049 in Dubai and at the Arts DAO Fest also in Dubai.
“Yuga Labs goes to Dubai for @token2049 & @Arts_DAO Fest. Discover the full program of events, panels, and Dookey Dash: Unclogged demo below. All Yuga Labs PFP holders are invited to the “Meetup at the Clubhouse” organized by @DubaiApeYC. Book a ticket through the mentioned tweet.”
At the beginning of the month, instead, the Bored Apes were also present at the NFT New York event.
“Last week the Apes met at the NFT in New York and participated in “Meet at the Clubhouse”. Great moment for @PapaPsalmsLlama to talk about how exciting it was to see the building of Apes in flesh and blood.”
The situation of BAYC and CryptoPunks from last year
Returning to the sales discussion, it seems that the current situation of Bored Apes is very different compared to a year ago.
And indeed, last February 2023, we were talking about the BAYC and CryptoPunks collections for their million-dollar sales, which seemed to be about to “explode the NFT market again.”
Specifically, the CryptoPunk #5066 was sold for 857 ETH, which at the time was equivalent to 1.4 million dollars. Also, the BAYC #7090 saw a sale for 800 ETH, which is 1.3 million dollars at that time.
Moving on to April 2023, despite the NFT market seemed to be starting its decline, the BAYC NFT collection continued to dominate on the Crypto.com marketplace.
The BAYC project was launched in April 2021, and its parent company that issued the collection, Yuga Labs, was valued at 4 billion dollars at the beginning of 2022.
