Bored Ape NFT Prices Tumble as ETH’s Value Takes a Battering

The pullback will be brutal for those who snapped up Bored Ape in April, when the floor price of this NFT collection reached a new all-time high of 152 ETH. That was worth $430,000 at the time.

As the cryptocurrency winter has worsened, the floor price of major non-fungible tokens like Bored Ape has plummeted.

This metric illustrates how much the cheapest NFT in a collection currently costs.

Data from NFT Price Floor shows the least expensive Bored Ape now costs 78.5 ETH.

At current rates, that’s worth just $88,155 — a painful retracement considering all these NFTs have commanded six-figure price tags for the best part of a year.

Bored Ape holders have suffered a double whammy. Not only has their value in ETH plunged as the bear market set in, but ETH itself has been in freefall against the U.S. dollar.

Data shows that, at the time of writing, the world’s second-largest cryptocurrency has shed 37.5% of its value over the past seven days alone.

The pullback will be especially brutal for those who snapped up their Bored Ape in late April, when the floor price for this NFT collection hit an all-time high of 152 ETH.

That would have been worth over $430,000 back then — but in a sign of how low Ether has gone, such a crypto stash would be valued at just $171,000 now.

According to NFT Price Floor, the floor price in ETH terms has fallen 21.82% in the last 7 days.

Trading volume has also dropped significantly, with 32 bored apes changing hands in the last 24 hours. That’s a drop of 38.46%.