Bored Arb Yacht Club

<ul><li>NFT prices for BAYC and Pudgy Penguins have dropped below 10 ETH within the last 24 hours.</li><li>Pudgy Penguins faces over 130 liquidation auctions on Blend as floor price hits 8.7 ETH.</li><li>The Bored Ape Yacht Club&#39;s floor price falls to 9.23 ETH signaling broader struggles in the NFT market amidst increased selling pressure.</li></ul>The NFT market has experienced a significant downturn in the last 24 hours, with notable collections like Bored Ape Yacht Club (BAYC) and Pudgy Penguins seeing substantial price drops. BAYC and Pudgy Penguins, two of the most recognized NFT collections, have both fallen below the 10 ETH mark.According to <a href="https://x.com/WuBlockchain/status/1802941180470321530" rel="noopener noreferrer nofollow">Wu Blockchain</a>, Pudgy Penguins is at the moment experiencing several liquidation auctions with more than 130 NFTs from this collection up for auction on Blend. This surge in liquidations suggests that many investors are rushing to offload their holdings, possibly to cut losses or rebalance their portfolios in response to the falling prices.Market volatility is always a concern in the relatively young and speculative NFT space. Additionally, general economic factors like inflation rate and changes in interest rates may also be affecting the investors sentiment and liquidity. The sudden drop in value for high-profile collections like BAYC and Pudgy Penguins may also lead to a chain reaction that can lead to panic selling of other NFTs.<a href="https://cryptotale.org/the-altcoin-cycle-historical-patterns-show-when-to-expect-the-next-boom/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Pudgy Penguins and BAYC NFTs Fall Below 10 ETH

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