As the negative word of mouth spread, buyers started to dump Azuki collections leading to a crash in its floor price. Since the fiasco, the price has plunged by 58%.Bored Ape Yacht Club [BAYC]
also fell drastically in recent weeks. About 89 BAYC NFTs were offloaded by diamond hands, according to Nansen data, accounting for nearly 2% of their holdings. In terms of number of sales relative to long-term holders, BAYC’s was the second-highest, trailing only Azuki. BAYC’s floor price plummeted to 27 ETH during the first week of July, the lowest in two years. However, the Yuga-owned entity recovered somewhat, rising to 32 ETH at the time of publication, data from NFT Price Floor revealed.The NFT market was going through a difficult phase. After reaching the peak in March, its downfall started and decelerated right through the second quarter.
According to data from CryptoSlam, daily sales volume have dipped considerably since the Elementals controversy. The number of unique buyers followed a similar trajectory, reflective of the gloomy state of affairs of the market.