As Ethereum (ETH) Value Drops So Does Bored Ape NFT Floor Price

As the crypto winter continues, the floor price of main non-fungible tokens has dropped significantly.

The current cost of the cheapest NFT in a collection is depicted by this measure.

The cheapest Bored Ape (BAYC) is presently shown at 78.5 Ethereum (ETH), the value of which is currently worth $88,155 according to NFT Price Floor data. Given that all of these NFTs have hit six-figure prices for the majority of the year, this comes as a devastating retracement.

Not only has Bored Ape’s worth in Ethereum (ETH) plummeted as the bear market took hold, but Ethereum (ETH) itself has plummeted against the US dollar thus bad luck hitting twice for NFT holders.

In the past week only, Ethereum (ETH) has lost 37.5% of its value.

Bored Ape holders who purchased the collection by the end of April – a time when the NFTs value hit an all-time high of 152 Ethereum (WTH) will be the most disappointed. 

At the time, the worth of 152 Ethereum (ETH) would have topped $430,000. Nonetheless, its value is now at only $171,000. 

The floor price has decreased by 21.82% in Ethereum (ETH) terms during the past week, data shows.

At a 38.46% decrease with 32 Bored Apes trading in a 24-hour volume, the trading volumes have also decreased significantly.