Blue-Chip NFTs Slide as ETH Rebounds

Non-fungible token (NFT) market saw a downturn this week with blue-chip collections experiencing double-digit price drops as Ethereum’s (ETH) value retraced from record highs. Data from DeFi aggregator DefiLlama indicates that the floor prices for these established NFT projects declined significantly, with notable losses observed in collections such as Pudgy Penguins, Bored Ape Yacht Club (BAYC), and Doodles.