The minimum trading price of top Ethereum NFT collections, including the Bored Ape Yacht Club and CryptoPunks, have plunged over the last 24 hours, continuing a trend of sharply falling prices for so-called “blue chip” NFTs.

The floor prices of CryptoPunks and Bored Ape Yacht Club dropped by nearly 8% and 7% respectively over the last 24 hours, per CoinGecko data. Nansen’s Blue Chip 10 index of the top 10 NFT collections has dropped 31% year-to-date.

In recent weeks, the Bored Ape Yacht Club has sustained sharper losses, with the “floor price”—or the cheapest listed NFT on a secondary marketplace—falling nearly 19% over the last 30 days when measured in ETH. A Bored Ape starts at 36.4 ETH, or about $68,200.

That’s the lowest Bored Ape floor price, in ETH terms, measured by NFT Price Floor since November 2021, when the project was just taking flight. Meanwhile,

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Author: Nivesh Rustgi

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