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Bored Ape Yacht Club NFT Prices Fall After FTX Sinks Crypto Market

Ethereum project the Bored Ape Yacht Club is seeing sinking prices as ETH falls and owners potentially panic-sell their valuable NFTs.

According to data from NFT Price Floor, the cheapest available Bored Ape Yacht Club NFT on the market (i.e. the “floor price”) is listed for 57.5 ETH as of this writing, or about $76,400. Measured in ETH, that’s a 7% drop over the last 24 hours. But measured in USD, given the declining value of ETH (which is down 13% this week), it has fallen almost 24% over the past day.

Based on the current price, in USD, the floor price of a Bored Ape has plummeted since its peak of nearly $429,000 (152 ETH) on April 29 earlier this year, ahead of the launch of virtual land NFT deeds for creator Yuga Labs’ Otherside metaverse game. That’s an 82% drop.

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