BAYC falls below 50 ETH: Is another NFT market dip on the way

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In a new turn of events, the floor prices of several blue-chip NFTs dropped below their value in over a year. But reviving crypto price might help lift off the burden.

. At the time of writing, the collections’ floor price was 10.4 ETH. But like BAYC and the Punks, sales volume also increased.Lately, the value of most NFTs increased from the sorry state experienced for most of 2022. This was in accordance with the recovery of several cryptocurrency prices. Nonetheless, the surge has not transformed into notable appreciation anywhere close to the All-Time Highs of 2021.

Regardless of the fall in price, BAYC still maintained its top position out of all the collections across several blockchains. At the time of writing, its sales volume surpassed $3 million.But the number of buyers decreased by 8% while sellers went up by 30.43%. This implies that it was not only an under-supply of money flow that affected the collection. Rather, increased selling pressure also contributed to it.made attempts to leave its already-depleted condition.

 

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