BAYC floor price fell to around 27 ETH last weekend, hitting a new two-year low.
2023-07-04 02:10
Odaily News: The floor price of Bored Ape Yacht Club (BAYC) temporarily dropped to about 27 ETH (approximately $53,000) last weekend, reaching its lowest point since August 2021.
According to analyst Brad Kay from The Block Research, reasons for the decline in floor price include scarcity of buyers, a sluggish and illiquid market, and large holders selling off. For instance, recently, Huang Licheng sold a significant amount of BAYC on the Blur market in exchange for trading reward tokens.
According to NFTstats.eth data, over 80% of BAYC and CryptoPunks have not been sold even once in 2023, indicating a lack of liquidity in the market. (The Block)
According to analyst Brad Kay from The Block Research, reasons for the decline in floor price include scarcity of buyers, a sluggish and illiquid market, and large holders selling off. For instance, recently, Huang Licheng sold a significant amount of BAYC on the Blur market in exchange for trading reward tokens.
According to NFTstats.eth data, over 80% of BAYC and CryptoPunks have not been sold even once in 2023, indicating a lack of liquidity in the market. (The Block)
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