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Jinse Finance reported that the bottom prices of Yuga Labs’ Bored Ape Yacht Club and Mutant Ape Yacht Club series plummeted, and the NFT bottom prices continued to plummet across the board. According to OpenSea data, the bottom price of Bored Ape Yacht Club fell from 38ETH ($73,000) on Friday to less than 28ETH ($53,500) on Sunday, and Mutant Ape Yacht Club fell from 7.5ETH ($14,500) on Friday to Sunday. less than 5ETH ($9,400).
Shortly before the Bored Ape debacle over the weekend, Yuga Labs launched the HV-MTL. Bored Ape quickly fell apart shortly after the team behind the popular Azuki NFT released a new series that was criticized for having very similar artwork to previous series. The release caused the base price to plummet by around 60% last week.