Bored Ape Yacht Club (BAYC), the leading Ethereum non-fungible token (NFT) collectible, has experienced a significant decline in its base price. This decline represents a decrease of over 90% from its historical peak. 📉 BAYC is approaching an NFT floor price below 10, with a 50% decline since March 1.

On Monday, April 15, the base price of Bored Ape NFTs momentarily dropped below 11 ETH and settled at 10.9 ETH, approximately $34,000. This sudden drop represents a 12.08% drop in just one day.

BAYC's all-time high base price of 128 ETH, approximately $395,000, was achieved in April 2022. This level represents a decline of more than 90% from BAYC's base price.

Meanwhile, in the general context, CryptoSlam data shows that Bitcoin-based NFTs (Bitcoin Ordinals) are outperforming Ethereum NFTs. During the same period, Bitcoin Ordinals achieved a sales volume of $458.8 million, exceeding the $299 million achieved by Ethereum NFTs.

Despite this, on-chain data shows that certain BAYC NFTs are still selling for much higher than their current floor price. For example, BAYC#830sold for 504.3 ETH, or $1.92 million at the time, just last month. 💰