The floor price of popular NFT collectives has drastically decreased as a result of the bear market.

It seems that the crypto market is still struggling, even after Monday’s big sell-off. Prices for two of the most popular types of cryptocurrency (Bored Ape Yacht Club and CryptoPunks) have both fallen below $100,000.

In comparison, BAYC pieces had an all-time high floor price of 153.70 ETH, whereas CryptoPunks’ pieces had an all-time high floor price of 123. At the time of publication, the data aggregator is tracking 380 individual collections with a total market capitalization of $5.58 billion.

The sell-off among NFTs was partly caused by a warning that was given just one day earlier. This warning was issued by Gordon Goner, co-founder of Yuga Labs. He warned that there would be an attack on social media accounts that were operated under the firm’s umbrella.

An insider from Twitter is reportedly assisting the oncoming assault, which would allow him to breach the accounts’ security. Three times this year, Yuga Labs’ social media platforms had been hacked, and some of these incidents involved sophisticated phishing assaults that stole millions of dollars worth of users’ NFTs.

Meanwhile, the number of users on OpenSea.io, which is by far the most popular NFT marketplace, has decreased by 14% in the past month, according to DappRadar. At the same time, monthly trading volume fell by 65% to $500 million. This could be because people are selling their NFT collections at a better price. The number of transactions increased by 6.4%, possibly because there are more people looking to sell.

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