Blue‑Chip NFT Floor Prices Crash as Ethereum Retraces from ATH
🔑 Key Takeaways Blue-chip NFTs like Pudgy Penguins (–17.3 %), BAYC (–14.7 %) and Doodles (–18.9 %) saw double-digit floor price drops. Overall NFT market cap plunged by $1.2 billion in a week, down to ~$8.1 billion. The downturn aligns with Ethereum’s ~9 % pullback from its all-time high near $4,700. CryptoPunks remained relatively resilient, down just ~1 %. 🗞 Main Story Over the past week, blue-chip NFT collections suffered steep floor price declines as Ethereum retraced nearly 9 % from its all-time high of ~$4,946 . According to DeFiLlama’s data, Pudgy Penguins dropped 17.3 % to a floor of 10.32 ETH , BAYC fell 14.7 % to 9.59 ETH , and Doodles plunged 18.9 % to 0.73 ETH . Overall, NFT market capitalization fell from ~$9.3B to $8.1B , marking a $1.2B contraction amidst investor caution. NFT valuations are heavily tied to Ethereum—most NFT pricing and trading is denominated in ETH. Consequently, Ethereum’s pullback exerts direct pressure on NF...