Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => DeFi tokens => Topic started by: ABCbits on April 16, 2024, 12:38:07 PM
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Bored Ape NFT Prices Tank to August 2022 Levels, Down 90% From Peak
Digital artwork that was once the talk of the town is now selling at a 90% haircut compared to prices during its peak popularity in 2021, showcasing the fragility associated with viral crypto trends.
The minimum price of the non-fungible token (NFT) collection, Bored Apes Yacht Club (BAYC), is just over 10 ether (ETH) as of Tuesday, a stark drop from a lifetime average of 120 ether in May 2022. Read more here (https://www.coindesk.com/web3/2024/04/16/bored-ape-nft-prices-tank-to-august-2022-levels-down-90-from-peak/).
I'm not fan of token/NFT, primarily due to lack of practical usage. Even though Bored Ape have some practical usage (e.g. access to private club or in-person event), isn't enough to preserve the price either. I also looked on https://nftpricefloor.com/bored-ape-yacht-club (https://nftpricefloor.com/bored-ape-yacht-club) and found out the price continue to decline, even though crypto bull run already starts few months ago. Your opinion is greatly appreciated.