Collections of the most expensive NFTs are rapidly falling in price

In February, the cost of expensive non-fungible tokens from the most popular collections decreased. The price of NFTs from the Bored Ape list fell by 30%, and CryptoPunks tokens by 24%. Despite this, interest in cheaper new NFTs is still on the rise.

The decline in the price of expensive non-fungible tokens was most recorded in the Bored Ape collection. At the beginning of the month, the cost of the cheapest art objects from this collection was 118 ETH, which is equivalent to $320,000.

The price then rose amid rumors of an NFT ad at the Super Bowl. However, this never happened, which caused a wave of discontent among NFT owners. Therefore, by the end of the month, the cost of tokens began to gradually decline. It seems that the minimum price loss will be at least 30%.

 

 

As for CryptoPunks, the minimum cost for avatars has been falling for 6 months now. The highest price was 122.5 ETH ($333k) after Visa announced it had acquired one NFT from the collection. However, after that, the cost began to fall, and now the minimum price of avatars is 63.44 ETH. Losses for the month amounted to 24%.

Despite the reduction in the price of leading NFTs, prices for other collections remain high on average. Demand is maintained. The trading volume on OpenSea is $100 million daily.

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