On Sunday, the floor price of the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection fell below 30 ETH (about $58,700), marking a new low not seen since October 2021.
According to OpenSea, the average price of Bored Ape Yacht Club’s NFTs has fallen, indicating a general cooling in the NFT market and an extended crypto winter that has hurt the price of Ethereum, which drives many NFT collections.
Other popular NFT collections, such as MoonBirds, Azuki, and Doodles, have seen drops in recent months.
BAYC’s floor price fell to 27.4 ETH, or nearly $53,000, on Sunday evening, according to data analytics website CoinGecko, before recovering marginally.
BAYC’s floor price last fell below 30 ETH in October 2021, right before it surged to new highs during the NFT bubble.
BAYC once had a floor price of 153.7 ETH, or nearly $430,000, according to CoinGecko, in April 2022.