VOT Research Desk
The market instability may have also moved to the NFT sector as a result of recent revelations concerning FTX’s liquidity problem and suspicions of customer cash manipulation.
As a result, cryptocurrency prices have plummeted this week. Additionally, investors may be selling their valuable NFTs, especially those linked to the well-known Ethereum project Bored Ape Yacht Club, in light of the recent drop in the price of Ethereum.
According to NFT Price Floor, 57.5 ETH, or around $76,400, is the floor price for a Bored Ape Yacht Club NFT.
In ETH, that is a loss of 7% over the previous day. Additionally, ETH’s price has fallen 13% this week, translating to a loss of about 24% over the previous day when expressed in US dollars.
