There seems to be no respite anywhere in the crypto realm from Monday’s extraordinary market sell-off.. According to data from NFT Price Floor, the floor price of Bored Ape Yacht Club (BAYC) and CryptoPunks, two of the most popular collections of non-fungible tokens, or NFTs, on the market, has fallen to 74 ETH ($92,223) and 48 ETH ($69,473), respectively.
Compared, the pieces of the BAYC collection had an all-time low price of 153.70 ETH, while the same metric amounted to 123 ETH for the CryptoPunks. The data aggregator tracks 380 collections with a total market capitalization of $5.58 billion at press time.
The liquidation of NFTs was compounded in part by a warning made a day earlier, in which Gordon Goner, co-founder of Yuga Labs – the company that owns the BAYC and CryptoPunks collections – issued a warning about an “imminent” attack on social media accounts operating under the company’s umbrella.
The incoming attack allegedly has the support of a Twitter insider who would help circumvent the security of the accounts. Yuga Labs’ social accounts have already been compromised three times this year, some of which involved sophisticated phishing attacks that drained millions of dollars’ worth of NFT from users.
Meanwhile, according to DappRadar, the number of users on OpenSea.io, the largest NFT market by volume, has fallen 14% in the last month. Simultaneously, monthly trading volume fell 65% to $500 million. Interestingly, the number of transactions increased month over month by 6.4%, possibly due to the large number of users looking to sell their NFT collections at a better price.
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