The non-fungible token ($NFT) market cap has fallen to record lows as Ethereum ($ETH) refuses. CryptoPunks are trading around $53,000, Bored Ape Yacht Club pieces are under $15,000, and Pudgy Penguins are hovering around $7,300.
$ETH lost about 28% in the last 30 days and is now trading near $1,640. Floors measured in $ETH fell much less than the value of the dollar, exposing the sector’s denomination risk.
Ethereum’s weakness is increasing $NFT Market capitalization towards record lows
Data from CoinGecko places the CryptoPunks floor at 32.5 $ETHor approximately $53,254. Bored Ape Yacht Club (BAYC) takes place at 9:05 am $ETHaround $14,828, while Pudgy Penguins trade at 4.48 $ETHalmost $7,335.
The difference is greatest at CryptoPunks. The floor rose from 31 $ETH to 32.5 $ETH however, over the past 30 days, the dollar bottom has fallen 29% from $71,000.
BAYC and Pudgy Penguins fell on both measures. Their dollar floors lost 39% and 42%, roughly triple that $ETHexpressed decreases of 9.4% and 15%.
Total floor valuations are now between $1.4 billion and $2.4 billion, depending on the tracker. CryptoPunks, the 2017 collection that anchors the sector, alone represents 27% of that total.
The slide follows Ethereum’s broader downturn. $ETH is trading 67% below its August 2025 record high of $4,946 and has lost 34% in a year.
A 17-session ETF outflow series has taken more than $401 million from the US market $ETH funds in May.
$NFT Analyst wale.moca, a former Azuki researcher, argued that this creates dependency $ETH-denominated profits are hollow.
“The price of $ETH is the biggest vulnerability that NFTs have. It’s cool when the bottom price is up 5 $ETH but it’s pointless if $ETH/USD is down 30% in the meantime,” wale.moca wrote.
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The low liquidity deepens the structural problem
Trading activity tells a similar story. According to CoinGecko, CryptoPunks recorded virtually no sales volume in the past 24 hours. The daily volume of nearly 1,800 collections tracked totaled less than $3 million.
The pressure is now reaching the market infrastructure. $NFT Price Floor, a leading data aggregator, has announced that it will close on June 30 due to insufficient funding.
$NFT Price Floor closes on June 30. Not because it failed. Because no one paid for the thing they used every day.
Founded in 2021 by a team of 5 people. David, Nico, Aleix, Jordi, Stefano. No VC round. No sign. Not a shill. Just clean data.
What they built:
– 1,799+… pic.twitter.com/CfOwJCfUEw— Tat Thang (@tatthang) June 6, 2026
Sentiment seemed stronger earlier in the cycle when there was an apparent $NFT seasonal comeback disbanded CryptoPunks and Moonbirds.
BAYC, on the other hand, has revisited the lows it set when the floor price fell below 10 $ETH.
Some teams are reducing their reliance on speculation. Pudgy Penguins have bet on culture over price in the short term, signing a partnership with Manchester City to reach mainstream audiences.
Yet the recovery of the dollar bottoms depends less on it $NFT please ask on Ethereum itself.
Maybe the $ETH The June price outlook could offer signs that blue chip valuations may be stabilizing.