Source: Adobe\/Proxima Studio<\/figcaption><\/figure>\n\u00a0<\/p>\n
The floor prices of some of the top non-fungible token (NFT) collections are crashing in the market, both in ethereum (ETH) and US dollar terms.<\/p>\n
The crash in NFT floor prices has accelerated over the past week for all three of today\u2019s top NFT collections by trading volume; Bored Ape Yacht Club<\/i> (BAYC), Mutant Ape Yacht Club<\/i> (MAYC), and CryptoPunks<\/i>, data from DappRadar<\/strong> showed on Monday.<\/p>\nFor the past day alone, floor prices in US dollar terms of the three popular collections are down 31%, 27%, and 16%, respectively. At the same time, average prices are also down by similar amounts for BAYC and MAYC, while CryptoPunks is holding up better with a decline in the average price by just shy of 2%.<\/p>\n
The floor price represents the lowest price that can be paid to own an NFT from a particular collection. It is often used to measure how popular different NFT collections are.<\/p>\n