Supply and Demand Bored Ape Yacht Club (BAYC), a well-known NFT collection, has experienced a significant price drop, reaching its lowest level in nearly two years at 27 ETH (approximately $53,000).
The decrease in price can be attributed to a decrease in buyer demand, as a major BAYC holder, known as Machi Big Brother, sold a large number of NFTs on the Blur marketplace to take advantage of bonus tokens offered by the platform.
The Block
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