Is Bored Ape Yacht Club Hype Dead? New Floor Price Reaches 66 ETH | August 2022

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A New Floor Price Is In For Bored Ape NFTs

Bored Ape Yacht Club has been in the news for many reasons. Last week, for instance, the global hacktivist group, Anonymous, had sent a message to Bored Ape Yacht Club collectors saying that it would investigate the allegations of Nazism, racism, and pedophilia representations in BAYC NFTs. Per community members, the collection’s logo is congruent to the Nazi SS logo. There are also allegations that the BAYC NFT founders’ online pseudonyms are based on racial taunts.

However, the Bored Ape Yacht Club has been the talk of the NFT town over the last couple of days for other reasons. The collections floor price has been hovering around levels that were last seen at the beginning of the year.

Bored Ape Yacht Club NFT price dips to 8-month low

Per data from CryptoSlam, one must pay a minimum of 65.9 ETH to acquire an NFT from the BAYC collection. Towards the end of April, as highlighted below, the collection’s floor price revolved around 140-150 ETH.

Alongside the floor price drop, there has been a dip in the Bored Ape Yacht Club collection’s volume as well. As depicted below, during the initial few months of the year, the number mostly revolved above 800 ETH with ease. Spikes to 15k and 18k ETH were also noted on several occasions. However, the number has been revolving in the three-digit arena lately. The same can be viewed below.

Source: Dune Analytics

Parallel to the said dips, data from CryptoSlam also highlighted the macro drop in the number of active wallets. Over the past 30 days, the number of active wallets has noted a 28% dip, hinting at NFT HODLers’ wearing demand.

Well, this is not only the case with BAYC. The state of the entire NFT market remains to be choppy. In the same 30-day timeframe, the global sales of NFTs have dipped by 8%.

As if this wasn’t enough, the Bored Ape Yacht Club collection continues to be targeted by scammers. Earlier today, perpetrators grabbed 5 NFTs, and a BAYC NFT was among them.

 

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