The floor price of several blue-chip non-fungible tokens (NFTs) rapidly declined during the past day despite an overall growing volume for the sector.
Falling floor price
Data from Coingecko shows that the top 10 NFT collections, like CryptoPunks, Bored Ape Yacht Club, and Mutant Ape Yacht Club, recorded declines of around 5% during the last 24 hours, aligning closely with Bitcoin. Other top collections, like Pudgy Penguins, Mad Lads, and DeGods, saw significant losses of up to 13.4%.
Top 10 NFTs and Floor Price (Source: Coingceko)
This continues a trend observed most of the year despite the overall improved crypto market condition. For context, blue-chip NFT collections like Bored Apes and Crypto Punks have seen more than an 80% decrease in their floor price compared to their peak levels.
It’s important to understand that an NFT’s floor price might not consistently reflect its actual market value, as factors such as rarity traits and others often contribute to price fluctuations.
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