The floor prices of some of the top NFT projects, such as Bored Ape Yacht Club (BAYC), have been on a decline, some bored ape price dropped 27 Eth over the week as NFT market faces a notable pullback in the second week of February.
Floor price or price floor are referred to as the lowest price instead of the average one, at which an NFT can be purchased. It shows the cheapest value a specific non-fungible token sells for.
BAYC, one of the most highly regarded projects, was still down by 1.68% over the past 24-hours and currently stood at a floor price of 89.96 ETH. While Crypto Punk noted a minor surge of 1.36% over the same period, its floor price was 66.9 ETH. Clone, on the other hand, also dropped by 4.81% over the past day with a floor price of 12.85 ETH. NFT project Doodles also shed almost 8%, bringing its floor price down to 10.95 ETH.
The latest drop in volume is reflected in the data for the top NFT projects traded on the leading marketplace – OpenSea. While 3Landers is the only exception, other projects such as NFT Worlds, mfers, tubby cats by tubble collective, and Azuki were all down by 60%, 33.46%, 67.29%, and 44.11%, respectively.
Despite being in infancy, the NFT sector has managed to seep into mainstream conversations. However, as reported by CryptoPotato, experts have warned that it could soon see a crash similar to that of ICOs.
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