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The Bored Ape Yacht Club and other Ethereum NFTs from Yuga Labs are experiencing a decline in value despite a bullish crypto market. Long-term NFT holders are feeling the impact, with prices falling to multi-year lows. The NFT market is seeing a 66% slump in trading even as Ethereum rallies, leading to lower floor prices for collections like BAYC and Pudgy Penguins.
NFT market downtrend sees lower floor prices for leading collections like BAYC and Pudgy Penguins https://t.co/UJnUsPLHpz
Why NFTs are seeing a 66% slump in trading even as Ethereum rallies https://t.co/n91g0qU9zX
🧵1/ 📉 In a surprising turn despite a bullish crypto market, Yuga Labs' #NFT collections like Bored Ape Yacht Club (BAYC) are seeing a decline in value. This thread will dissect the why, the impact on investors, and the broader implications for the NFT market. #BAYC #Crypto https://t.co/o5qawRSi2D
