The floor price of popular NFT project Bored Ape Yatch Club (BAYC) has dropped below 30 Ethereum (ETH) to hit a 22-month low.
The base price of the recently popular NFT collection BAYC, according to on-chain data, 51,726 worth a dollar to 27.03 ETH regress to end 22 months lowest reached level. The price recovered somewhat shortly after the drop. 30 ETH to the level rose.
BAYC base price, September of 2021 falling to its lowest level since the beginning of the month MoonBirds, Azuki, Doodles And CryptoPunks in other popular NFT collections such as similar price falls seen.
In response to these September 2021 BAYC on dollar worth of 30 ETH rising rapidly after falling worth 300 thousand dollars Rising to 153.7 ETH a new current situation bull of the scenario sign It made me think of the possibility.
NFTs soon became popular in the last quarter of 2021. great value had won. With a possible bull in the crypto money market, the increase in the price of Ethereum and this situation to NFTs also will reflect is being considered.
What is the reason for the drop in prices?
First BAIC in NFTs price drop It is thought to be due to multiple causes. Especially recently from the NFT market. withdrawn liquidity It was stated that it had an effect on the falling base price. The current cryptocurrency market regulatory challenges da NFTs not directly concerned on the counter price sales pressure It was underlined that it could be
Also one of the major BAYC investors Machi Big Brother as well as its sales low liquidity in the environment price on may have been effective is estimated. Real name Jeffrey Huang the one which… Machi Big Brotherpopular blockchain researcher to ZachXBT opened case with the cryptocurrency ecosystem recently. had reacted.
Users increasing in the market reluctance to buy before the bull scenario market preparation data, while suggesting that BAYC collectibles of 83% more than year 2023 never in did not change hands revealed. However, in this regard, a of the bull scenario to the market associated with new capital inflow It was noted that.