The crypto market fall has now turned into a crisis, affecting major industry giants such as BAYC and Bitcoin. The price of BAYC has dipped to the price of Bitcoin and Ethereum.
Furthermore, the NFT market is suffering as a result of the crypto market crisis. The BAYC NFT is one of them, and one of the industry’s primary leading players.
The BAYC has been growing well in comparison to other cryptocurrencies, including Bitcoin. The market collapse, however, has had an impact on the NFT sector, with prices sinking.
Current Trend of BAYC
The price of BAYC has fallen farther than the price of BTC and Ethereum. BAYC has dropped by around 29% within the last 6 days.
This is a significantly bigger fall than the drops in Bitcoin at 17% and Ethereum at 15% during the same timeframe. Many other well-known NFTs have been similarly impacted and are underperforming horribly, with steep price declines.
Despite this, another famous NFT like BAYC, the JPG NFT Index price has dropped by a stunning 26% in the last six days.
Otherdeeds NFT, down 23%, and Moonbirds NFT, down 19%, are two more NFTs that have dropped. As a result, the NFT market will only increase if the cryptocurrency market recovers.
