The floor prices of some of the top NFT projects, such as Bored Ape Yacht Club (BAYC), have been on a decline, some bored ape price dropped 27 Eth over the week as NFT market faces a notable pullback in the second week of February.
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Floor price or price floor are referred to as the lowest price instead of the average one, at which an NFT can be purchased. It shows the cheapest value a specific non-fungible token sells for.
BAYC, one of the most highly regarded projects, was still down by 1.68% over the past 24-hours and currently stood at a floor price of 89.96 ETH. While Crypto Punk noted a minor surge of 1.36% over the same period, its floor price was 66.9 ETH. Clone, on the other hand, also dropped by 4.81% over the past day with a floor price of 12.85 ETH. NFT project Doodles also shed almost 8%, bringing its floor price down to 10.95 ETH.
The latest drop in volume is reflected in the data for the top NFT projects traded on the leading marketplace – OpenSea. While 3Landers is the only exception, other projects such as NFT Worlds, mfers, tubby cats by tubble collective, and Azuki were all down by 60%, 33.46%, 67.29%, and 44.11%, respectively.
Despite being in infancy, the NFT sector has managed to seep into mainstream conversations. However, as reported by CryptoPotato, experts have warned that it could soon see a crash similar to that of ICOs.
