Bored Ape Yacht Club Floor Price Slides to Five-Month Low as Prominent Investor Dumps Holdings
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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
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The floor price of the Bored Ape Yacht Club (BAYC) collection has slumped to a five-month low of 55.59 ether (ETH), according to Cryptowatch data.
The slide in NFT prices occurred after pseudonymous holder “franklinisbored” said on Twitter that he sold the majority of his collection. On-chain data shows that the user sold at least 27 BAYC NFTs over a 12-hour period, securing 1439.5828 ETH ($2.8 million) in the process.
Franklinisbored explained his decision was due to “unfortunate” real-life issues which prompted him to liquidate his NFTs.
“Due to an unfortunate IRL issue, I have had to sell off a lot of BAYC apes to pay off BendDAO loans while the liquidity was available. I won’t get involved in NFT trading/twitter for a while, and will just focus on my private life for the time being with my remaining apes,” they wrote.
According to data from Etherscan, numerous transactions were made from franklinisbored’s wallet to BendDAO, suggesting that his explanation is legitimate.
ApeCoin (APE), the native governance token for the Bored Ape Yacht Club ecosystem, remains flat over the past 24-hours in terms of its dollar valuation despite falling against ether trading pairs, according to CoinDesk data.
Edited by Aoyon Ashraf.
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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
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Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
