Bored Ape NFT Dips 60% in May Amid Market Slow Down

Bored Ape NFT Dips 60%

Bored Ape Yacht Club’S value fell by 60% since May, since trading at an average price of $382,894 amid a slow market uptake in collectibles.

Bored Ape Yacht Club’s average sales value for May was $218,850. The value is less by $89,666 than April’s $308,517. The figure for March was $254,175, February $274,663, and $269,053 in January.

APE launched on May 1 with a trading price of $20.02. The token reached a monthly low of $5.25 and closed the month at $6.76. APE is now a 66% dip since its value in May.

The price decline is attributed to the crypto market crash that started in May, causing a decrease in investor interest in the sector. The average sales values dropped despite an increase in unique buyers from 475 in April 2022.

Source: Beincrypto

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