BAYC NFT Sinks Down Worse Than BTC
- Bored Ape Yacht Club NFT sinks deep down.
- Plunges worse than BTC.
- Falls down to 86 ETH from 153 ETH.
The crypto market crash now turns into a crisis, with the conditions prevailing and worsening for the sixth day in a row. The further the market crash continues the worse will become the conditions for the crypto industry.
Besides, the crypto market crash has indeed had direct impacts on all other attributes too. In such terms, the Non Fungible Token (NFT) market is also being adversely affected. Among them, one of the major top players in the industry, are the Bored Ape Yacht Club (BAYC) NFT.
The BAYC has been performing on par with the top cryptocurrencies and the Bitcoin (BTC) too. However, the market crash has affected the NFT market too, plunging the prices down.
BAYC’s Current Trend
True to the fact, the price of BAYC has dropped down worse than that of the BTC and the Ethereum (ETH). BAYC has slumped down about 29% taking into account the past six days.
Moreover, this is indeed comparatively higher than the drop-down of BTC at 17% and the ETH at 15% for the same time period. Similarly, many other prominent NFTs have also been affected and are underperforming terribly, with huge price drops.
In spite of this, like the BAYC, another prominent NFT, the JPG NFT Index price fell by a staggering 26% over the past six days. On the 1st of May, the BAYC price reached 153.73 ETH, which is indeed high. However, within the last week alone, BAYC slumped down hard to 86 ETH. This accounts for the lowest for the past two months for the BAYC.
Few more such NFTs which plunged down are Otherdeeds NFT, down by 23%, and the Moonbirds NFT by 19%. And so, the NFT market will only rise up on the pretext, that the crypto market blooms back.
Read more: https://thenewscrypto.com/bayc-nft-sinks-down-worse-than-btc/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
