BAYC's Price has Dropped by Half Since Early May!

Since early May, the NFT collection at Bored Ape Yacht Club has dropped by more than half. The minimum price per "JPEG" had plummeted below $200,000 on Wednesday. Not long ago, an Ape could be purchased for as little as $400,000. The trade dynamics have also shifted; sales have reduced by 117 pieces, or almost 30%. Despite the steep fall in the BAYC collection, Yuga Labs remains the producer of the market's most popular NFT collections. All three collections by well-known NFT authors were in the top five in terms of market valuation.