NFT CryptoPunks floor price plummets below $100,000

The NFT CryptoPunks collection floor price has fallen by more than 50% in dollars compared to the previous month.

NFTs are tokens registered on different blockchain and digital media.Each buyer of NFT products will receive information and certification of ownership of these assets, allowing them to use them in free trade transactions.

The development of NFT has made many investors rich in recent years by buying and selling unique collections of artwork or images on Ethereum. However, because the cryptocurrency market is going down at the moment and through the collapse of Terra has caused a lot of investors to worry.

The NFT CryptoPunks collection, launched by Larva Labs in 2017, had a floor price of 47 ETH ($91,673). Trading volume of NFT CryptoPunks fell from $8.28M(9/5) to $8.28M the week after. So far, the trading volume is only $2.75M.

NFT floor prices fell broadly in line with cryptocurrencies throughout May. The cost of digital assets has been under pressure when trading Bitcoin (BTC) below $30,000 and Ethereum (ETH) below $2,000 – exacerbated by the collapse of the Terra ecosystem two weeks ago.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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