BAYC price at the lowest level since August 2021. Is the fate of the collection of bored monkeys sealed?

Even though spring is in full swing on the NFT token market, one of the most famous collections is running low in price. According to the latest data, the BAYC price has fallen to its lowest level since August 2021. How big is this drop relative to ATH? As much as 90%!

Bored monkeys that were supposed to cost millions

The hype for the collection of NFT tokens with bored monkeys was at a gigantic level at one time. BAYC from Yuga Labs was promoted by such celebrities as Justin Bieber and Kevin Hart. Although the price of BAYC increased along with the popularity of the collection itself, many experts warned against investing capital in NFT tokens.

Although the BAYC collection was the most popular on the market at the time, it was not immune to the market collapse and drastic drop in value. The topic of NFT tokens, as well as the BAYC collection itself, have become a symbol of the fact that not everything related to Web3 will always keep its value within a certain oscillating limit. The NFT token market has been covered by the glacier of the cryptocurrency winter.

BAYC price lowest since August 2021. What’s next for Yuga Labs?

The situation began to change at the end of 2023, when signs of awakening and enthusiasm began to be visible in the cryptocurrency market. The NFT token market also responded. The price of BAYC began to increase, which filled investors with hope, who lost nearly 90% on this investment. While the non-fungible token market has indeed recovered, BAYC are running aground again. On Monday, April 15, the minimum price of the Bored Ape NFT dropped to 10.0 ETH (approximately $34,000).

This is the lowest price since August 2021. At the peak of their popularity, BAYC tokens cost up to 128 eth per piece. This is a decrease of over 90%! How did this situation affect Yuga Labs? Apart from lawsuits from (un)happy token holders, the company still operates in the Web3 industry, although there have been significant changes in its structures. One of the four directors resigned last year.