On March 29th, despite the debut of multiple digital art projects at Art Basel Hong Kong, the overall NFT market performance remained weak, showing no clear signs of recovery. Specifically, Bored Ape #5278 from the "Bored Ape Yacht Club" series is currently listed at just 7 ETH, a drop of over 100 ETH from its last transaction price. This reflects a significant valuation pullback for a leading NFT asset. Once considered a rapidly rising asset class, the hype surrounding the NFT art market has cooled considerably, with liquidity and price performance continuously under pressure.
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NFT Market Remains Sluggish; BAYC #5278 Down Over 100 ETH from Last Sale
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