The Bored Ape Yacht Club (BAYC) NFT collection saw a significant drop in price floor, from under 20 ETH to 17.99 ETH (approximately $66,000). On the other hand, Ethereum price is on an upward trend and has reached $3,717.
The price floor is a metric used to gauge the popularity of an NFT project at a given point in time. It represents the lowest price a seller is willing to accept for an NFT in a collection and may vary slightly by platform.
CoinGecko reported that BAYC’s floor price hit a low of 17.99 ETH, or about $70,000, on Sunday before partially recovering. The last time BAYC’s floor price fell below 30 ETH was in July 2024, just before the NFT boom significantly increased the floor price. In April 2022, BAYC’s floor price rose to 153.7 ETH, or about $430,000, according to CoinGecko.
At the time of writing, OpenSea reported that the collection’s floor price was 18.0 ETH, which equates to approximately $66,000. Despite the drop in BAYC’s floor price, trading volume has increased by more than 329% in the past 24 hours, OpenSea said. Currently, BAYC’s trading volume is almost 1.5 million ETH, making it the sixth largest NFT collection by sales volume, according to data from CryptoSlam.
At the time of writing, Ethereum is priced at $3,687.46, having risen 4.56% in 24 hours. In anticipation of the ETH ETF, investors have shown interest in Ethereum, as evidenced by its recent whale activity and 80.36% increase in trading volume.
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