• The floor prices of Ethereum-based Blue-Chip NFT projects have plummeted significantly from their all-time high.
• Despite the steady fall in value, BAYC and CryptoPunks experienced a drop in sales volume.

Amid a general decline in interest in profile-picture NFTs (PFPs), the floor prices of Ethereum [ETH]-based Blue-Chip NFT projects have declined by an average of 82.8% (or 34.6 ETH) from their all-time highs (ATHs), CoinGecko found in a new report. 

Blue chip NFTs are considered to be high-quality and have a high potential for future growth. They are often characterized by their high floor prices, strong community, and potential for future utility.

According to CoinGecko, their value declined due to a steady fall in trading volume. In Q2, the trading volume across all NFT marketplaces declined by 35%. 

BAYC and CryptoPunks logged the most losses

Out of the top 11 Blue-Chip NFT projects examined, CoinGecko found that Yuga Labs’ Bored Ape Yacht Club [BAYC] and CryptoPunks recorded the highest absolute losses. CoinGecko noted,

“Compared to their ATH floor prices, BAYC lost the most native currency value (-120.2 ETH), and CryptoPunks lost the most USD value (-$383,244).”

Go to Source to See Full Article
Author: Abiodun Oladokun

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details