Monkeys Don't Matter Anymore: Bored Ape NFT Price Hits This Year's Low

Bored Ape NFT

✍️ 22 August, 2022 - 18:17 👤 Editor: Jakub Motyka

  • Bored Ape's monkey NFT collection hits its lowest floor price so far this year, 65.68 ETH.
  • It is a long way from the maximum price of 153.7 ETH that they reached on May 1.
  • In any case, Bored Ape is still the largest collection of NFTs in the world by market capitalization (656,800 ETH).

The NFT collection of Bored Ape, the popular collectible monkeys that have sold for millions of dollars over the last few years, is in low hours. This week it was known that the base price (floor price) of the NFT collection of Bored Ape Yacht Club (BAYC) has touched 65.68 ETH (Ethereum), the lowest figure so far this year. Far away are the 153.7 ETH that reached a record at the beginning of May.

With this fall, the base price of Bored Ape NFTs has reached a figure not seen since January 2 of this year. In any case, it's not all bad news: thanks to changes in the price of Ethereum (ETH), the price in dollars for which these collectibles are sold is equivalent to more than $100,000, compared to the $87,000 they had as a conversion with their floor price in June.

In a cryptocurrency market that is still in bearish phase, it is evident that the NFT were not going to get rid of crashes. Moreover, collections such as the one from Bored Ape Yacht Club (BAYC), which are bought and sold on the Ethereum (ETH) cryptocurrency, any change in the price of the altcoin in question directly impacts the market for these collectibles. Ethereum (ETH) has experienced drops of more than 40% in value in recent months.

CryptoPunk Collection Tops Bored Ape For The First Time In 5 Months

Due to the fall of Bored Ape, the collectibles of CryptoPunk, another of the great acquaintances in the world of NFTs, have momentarily exceeded the base price of the monkey collection for the first time in 5 months: for a few moments, their price floor has been 66.45 ETH, slightly above the BAYC figure.

In any case, at the time of writing this news, the base price of Bored Ape (BAYC) was at 68.48 ETH, thus returning to be above the collection of the CryptoPunks, which is listed at 66.45 ETH.

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Juan Pais

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