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NFT Sales and Floor Prices Slump Amid Broader Crypto Market Decline

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The wider crypto market rout has hurt NFT sales as the floor prices for the top-ranked NFT collection continue to plummet.

The NFT sector has seen an explosion of interest throughout last year. In 2021 as well, the market kicked off with booming sales sharply, contrasting with the overall slump in crypto prices in January. After decoupling for a few weeks, NFT sales appear to be cooling down again., the floor prices of some of the top NFT projects, such as Bored Ape Yacht Club , have been on a decline.

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., 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.

Despite being in infancy, the NFT sector has managed to seep into mainstream conversations. However, as reported by

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