Liquidation Fears Mount as BAYC NFTs Floor Price Drops
Fears of liquidation have gripped the non-fungible token market after it emerged that several Bored Apes and Mutant Apes holders borrowed against their NFTs on BendDAO. The news broke out on Twitter after a user shared a screenshot of a Bored Ape NFT made available for auction. With the floor price of Bored Ape now at 72 ETH, BAYC #533, which was used as collateral against a 66.95 ETH loan, has now been listed for auction. Although no one has made a bid for the NFT yet, it appears that several other Bored Apes holders borrowed around 60 ETH on the protocol too.#Web3GrandPappa #mimeXmime
