The Bored Apes’ floor drops 78% from ATH, 50% in past 90 days: Why?
nftjedi
This week, the FUD about the Bored Ape Yacht Club has hit an all time high, as its floor price continues to plummet.
Down 78% from its ATH on April 30, 2022 (153 ETH), and down nearly 50% in just the past 90 days, the FUD about BAYC on NFT Twitter has been loud this week.
Meanwhile, the CryptoPunks’ floor has fared somewhat better. It’s down 60% from its ATH (125 ETH) on Aug. 28, 2021, and around 25% in the past 90 days.
Source: NFTpricefloor.com
Source: NFTpricefloor.com
Why is the Bored Ape floor price plummeting?
Yuga Labs secured $450 million in seed funding, so there’s no reason for panic. It continues to develop its Otherside gaming metaverse, with Daniel Alegre, formerly of Activision Blizzard, at the helm.
But, when compared to Yuga’s other blue-chip collection, the CryptoPunks, the recent drop in floor price has to be reason for concern.
We will explore possible reasons for the precipitous drop. Back shortly.
