Pop star Justin Bieber’s “Lonely Ape” BAYC NFT purchased for 500 ETH ($1.3 million), is now worth only 56-59 ETH ($66,735-$71,500), representing a 90% loss as digital collectibles and assets suffer from the crypto market’s decline.
Similarly, the collection’s floor price has dropped to 62 ETH, according to OpenSea data.
A couple of potential factors could be driving down Bored Ape prices this week. One factor is general crypto market despair in the aftermath of the FTX collapse, which may be prompting some investors to sell their “blue chip” NFT assets during the downturn.
Also Read: List of Celebrity NFTs to Watch Out in 2023
Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.
