Blue Chip NFTs Plummet as Ethereum Market Downturns

The non-fungible token (NFT) market has experienced significant drops this week, driven by a downturn in the broader crypto market and cooling speculative fervor. Notably, leading blue chip NFT collections have suffered substantial declines in trading volume and floor price value, attributed to these market trends. Ethereum’s recent surge towards its all-time high triggered a subsequent pullback, impacting many of the most prominent NFT series.