The nonfungible token (NFT) market has been struggling this year, with several popular collections experiencing significant drops in floor prices. Despite the overall crypto market gaining 40% since the beginning of the year, NFTs have failed to follow suit. Even some of the biggest and most popular collections from last year, such as Doodles and Moonbirds, have seen their floor prices plummet by 90% and 94%, respectively. Sales volumes for NFTs have also declined by 84% from April 2022 to April 2023, according to CryptoSlam. However, Bored Ape Yacht Club remains the top-selling collection with $43 million in volume over the past 30 days.
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Top NFT Collections of 2022 Lose Their Shine as Floor Prices Fall
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