After the FTX controversy, BAYC prices plummet

Recent questionable conduct in the FTX house has sent shockwaves through the Web3 building. The Bored Ape Yacht Club is one such victim, as its once impregnable floor price has taken a substantial hit.

Following the recent demise of FTX, a selling event with all the hallmarks of a panic sale occurred. OpenSea, a trading giant, saw an increase in WETH sales on the Ethereum network, indicating that a large number of buyers quickly accepted lowball offers as floor prices fell.

WETH trades as a ...