The floor price of Bored Ape NFTs fell to the lowest level since January 2022.
The Bored Ape NFT collection is going through a difficult process like the crypto money industry. NFTs are currently trading at an overall price of 67 ETh. This is unprecedented since January 2022.
The fear of liquidation related to NFT on the OpenSea platform is among the reasons for the drop in prices.
Unlike cryptocurrencies, NFTs are priced according to the lowest value of the NFTs at which they want to be sold. Since NFTs are not unique, there must be a buyer for each NFT, making the market much more challenging when liquidity is low.
The base prices of Bored Ape Yacht Club NFTs are at 67 ETH at the time of writing, according to CoinGecko data.
Bored Ape Finds Buyers for $1.4 Million
Despite the drop in prices, a Bored Ape Yacht Club NFT has found buyers for $1.4 million.
A user named Vis.eth bought the Bored Ape NFT for 777 ETH. The user noted that he made such an investment because he wanted to have a golden monkey.
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