The largest NFT collection in the world fell to its lowest level in 2022

The price of the Bored Ape Yacht Club (BAYC) NFT collection has fallen to its lowest level since the beginning of the year. This happened against the backdrop of a prolonged decline in the NFT market and the general collapse of the cryptocurrency market. Trading at 65.68 ETH, the minimum price of the Bored Ape Yacht Club NFT has fallen to a level not seen since January 2022. According to CoinGecko, it has been on a downward trend since reaching an all-time high of 153.7 ETH on May 1.

BAYC remains the largest NFT collection with a market capitalization of 656,800 ETH, slightly higher than its closest competitor, CryptoPunks (whose total market capitalization reaches 655,000 ETH).

However, it’s not all bad news for Bored Apes owners. The fluctuating price of Ethereum means that in dollar terms, the minimum price of BAYC is currently around $ 107,000. This is significantly lower than in early 2022, when the token was worth just under $ 256,000.

However, that’s not all. Bored Apes tokens purchased with loans from BenDAO’s peer-to-peer lending service may be liquidated due to the sharp drop in the collection’s minimum price. BenDAO claims that «short-term fluctuations in the minimum price of NFTs are normal.»

We would like to remind you that recently a member of the Bored Ape Yacht Club with the nickname Vis. Eth purchased Bored Ape #5383 for 777 ETH, which is equivalent to almost $ 1.5 million. The Golden Fur Bored Ape NFT or Bored Ape #5383 is an angry monkey wearing a lumberjack shirt. According to Rarity Tools, a tool for determining the uniqueness of NFTs, Bored Ape #5383 ranks 320th among the rarest monkeys.