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Now we have seen the NFT market go up and down in recent times and what’s the easiest way to calculate how a lot worth these NFTs have misplaced than to take a look at blue chips like BAYC.
On this article, we’re going to try BAYC and see how a lot they’ve misplaced in worth within the final six weeks.
On April 30, we noticed the value flooring go as much as 153.58 ETH when Otherdeed was launched for metaverse from the opposite facet. On this date, all BAYC NFT holders had been rewarded with an Otherdeed NFT that they might declare from April 30 to Might 22.
As Might started, the crypto market started to expertise a decline, and most certainly the crash of TerraLuna and the TerraUSD stablecoin created a lot FUD out there that it started to have an effect on the NFT market as properly.
Now that the crypto market is falling and following the value flooring of this blue-chip, each in USD and ETH phrases, the value we’re seeing now’s the bottom we’ve seen since 2021. (in USD)
Since we’re contemplating April 30, let’s calculate how a lot ETH was price and what was the minimal value of the Bored Ape assortment.
- Minimal value on April 30 = 153.58 ETH
- 158.58 ETH to USD (as of April 30) = $435,680
- Minimal value now: 86.48 ETH
- 86.48 ETH to USD (now) = $92,055
On the time of writing, the minimal value of BAYC is round 86 ETH and, bearing in mind the value of Ethereum, it represents a worth of $92,055. Since Otherdeed was additionally rewarded for every Bored Ape holder, let’s add that value 2 ETH to that value which is $2169.
92,055 + 2169 = 94255
Now the 2 NFTs mixed are price $94,255. That’s the value now for those who purchased this NFT for $435,680 on April 30, virtually 6 weeks in the past. The NFT has misplaced $343625 in worth in six weeks (that is 78% much less).
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