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Bored Ape Floor Plunges Below $100K as NFT Prices Collapse

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Prices and sales of non-fungible tokens (NFTs) continue to fall as bears take over the wider crypto market in full. Popular collections such as the venerated Bored Ape Yacht Club (BAYC) have not been left out either, and their US dollar floor prices have lost significant value.

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To be clear, the floor price represents the lowest price of the NFT collection, not the average price. In other words, this is the lowest price for buying one non-fungible token from the collection.

Bored Monkey Floor Price Drops Below $100,000

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According to data from NFT MINIMUM PRICE, the floor price of Bored Apes fell below $100,000 for the first time in nearly a year. At the time of writing, the minimum amount of BAYC is $87,000 (72 ETH), which is 60% less than the all-time high. The monkey last traded in this price range around August 2021.

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Despite the fall, BAYC still maintains its position as the largest NFT project with a market capitalization of around $1.7 billion.

Bored Ape Yacht Club is the popular NFT collection that dethroned Crypto Punks to become the world’s most valuable NFT at the end of Q3 2021.


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The highest rarity bored monkeys sold at their peak for over $1.5 million, while the most expensive monkey was auctioned off for $3.4 million (852.39 ETH) last October. During the same period, other less expensive monkeys had floor prices in excess of $250,000. However, after the recent market sell-off, BAYC’s sales and prices have steadily declined.

Apart from Bored Apes, other popular NFT collections have cut a significant portion of their floor prices. For example, Crypto Punks, the second largest NFT collection, currently has a floor price of $58,000 (48 ETH) up from $160,000 (66.9 ETH) in February.

Investors seize opportunities

Interestingly, BAYC’s floor price falling below $100,000 created an opportunity for investors looking to purchase NFTs at lower prices.

About 26 monkeys have been sold in the last 24 hours, up 116% from the previous day. BAYC’s daily volume also jumped 50% as more than $2.6 million was traded in the last 24 hours.

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Credit : cryptopotato.com

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