Bored Ape Yacht Club NFT Prices Slump Along With Market

Cratering cryptoasset values sent the floor price of NFT collections tumbling in the past 24 hours

article-image

Blockworks Exclusive Art by Axel Rangel

share

key takeaways

  • Trading volumes on NFT marketplace OpenSea jumped 173% to $23.46 million over the last day
  • BAYC’s floor price in ETH dropped 13% in the last week

Crypto has experienced a brutal sell-off this week, and that has spilled over into the NFT market. Trading volumes for some of the most popular NFT (non-fungible token) collections have jumped in the past 24 hours as floor prices dropped considerably, according to data from crypto exchange OKX.

Yuga Labs’ Bored Ape Yacht Club (BAYC) held the highest trading volume among a list of NFT projects that saw sales rise, posting a nearly 300% jump in the last day.

BAYC sales volume; Source: CryptoSlam.io

BAYC’s floor price, or the cost of the cheapest available NFT on the market, has fallen 13% in ether over the last week to as low as 75 ether ($91,917), according to NFT Price Floor. The drop is even more pronounced in terms of the US dollar, thanks to the plunging value of ether, which is down 30% during the same timeframe.

As recently as April, the cheapest Bored Ape NFT cost 152 ETH, or $429,000 at the time.

In the last 24 hours, Mutant Ape Yacht Club, Terraforms, Otherdeed, Moonbirds and CryptoPunks have all seen trading volumes jump more than 50%. Some of the digital assets sold for millions of dollars earlier this year.

The NFT index, which tracks the performance of non-fungible tokens in the market and is based on circulating supply, is down 23% on the day, DappRadar shows.

Separate data show NFT marketplace OpenSea’s trading volume peaked over the last day, posting a 173% jump in sales, worth $23.46 million.

This drop in value comes during a market rout, partly driven by the latest Consumer Price inflation report released Friday, which hit 8.6% in May.

Bitcoin last traded around $22,513 as of 2:30 am ET on Tuesday, and is down more than 50% year to date.

“Bitcoin bears certainly are in ruckus mode, berating the largest crypto the way a schoolyard bully seeks out for tormenting the same easy mark,” Rich Blake, financial consultant at Uphold, said.

“As far as support levels, the next few days surely will test digital assets if a faster pace of tightening and more aggressive rate hikes are announced. For the moment, extreme market conditions and Fed policy updates are exacerbating the consequences for cryptoassets.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (19).png

Research

Suilend has grown into the top money market and liquid staking provider on Sui. STEAMM, Suilend’s Superfluid AMM, presents a compelling avenue for growing market share within Sui’s DEX landscape and revenue generation for the protocol. Suilend’s multi-product suite position it well for owning market share across key verticals. While current metrics across the Sui ecosystem are likely inflated due to Sui Foundation incentive programs, SEND trades at amongst the lowest multiples in the lend/borrow sector, suggesting that a bull case for continued growth in the ecosystem may be mispriced.

article-image

A Blockworks Research report looked at who could take up some of the marketshare in the launchpad space

article-image

Business-to-business stablecoin payments are on the rise, per a report from Artemis, Dragonfly and Castle Island

article-image

Crypto continues to do its thing: incentivizing behavior

article-image

Kraken will soon offer Backed ‘xStocks’ as Solana tokens

article-image

In a unanimous decision, the US Court of International Trade has ruled that Trump’s IEEPA tariffs are unlawful

article-image

The platform has over $22 million in assets and allows anyone to invest in tokenized real estate