The non-fungible token (NFT) market experienced a significant downturn last week as the price of Ethereum (ETH) fluctuated. According to Cointelegraph, blue-chip NFT collections saw notable declines in floor prices, with leading projects like Pudgy Penguins, Bored Ape Yacht Club (BAYC), and Doodles suffering some of the most dramatic drops. Floor prices for these highly sought-after collections fell by double digits within the last seven days, as measured by DefiLlama data. Pudgy Penguins’ drop to 10.32 ETH was one of the steepest, followed by BAYC at 9.59 ETH and Doodles at a record low of 0.73 ETH. Other notable collections like Moonbirds and Lil Pudgys also experienced declines of 10.5% and 14.6% respectively.