We’ve seen the NFT market go up and down over the previous couple of years and what’s one of the best ways to calculate how a lot worth these NFTs have misplaced than blue-chips like BAYC.
On this article, we’ll check out BAYC and see how a lot they’ve misplaced in worth within the final six weeks.
On April 30, we noticed the ground value rise to 153.58 ETH as Otherdeed was launched for Otherside metaverse. On this date, each BAYC NFT holder was rewarded with an Otherdeed NFT that they might declare from April 30 to Might 22.
As Might began, the crypto market began seeing a decline, and likely, the autumn of the TerraLuna and stablecoin TerraUSD created a lot FUD out there that it began affecting the NFT market as properly.
Now that the crypto market is falling and following this blue-chip’s flooring value, each in USD phrases and ETH phrases, the worth we’re seeing now could be the bottom we’ve seen since 2021. (in USD)
Since we’re taking April 30 into consideration, let’s calculate how a lot was ETH price and what was the Flooring value of the Bored Ape assortment.
- Flooring Value on April 30 = 153.58 ETH
- 158.58 ETH to USD (on April 30) = $435,680
- Flooring Value Now: 86.48 ETH
- 86.48 ETH to USD (now) = $92,055
On the time of this writing, the BAYC flooring value is round 86 ETH, and taking the Ethereum value into consideration, it represents a price of $92,055. Since Otherdeed was additionally rewarded to every Bored Ape holder, let’s add that value 2 ETH to that value which is $2169.
92,055 + 2169 = 94255
Now, the 2 NFTs mixed are price $94255. That’s the worth now should you purchased this NFT for $435,680 on April 30 – practically 6 weeks again. The NFT has misplaced $343625 in worth in six weeks (that’s 78% down).
