Bored Apes now trade below 10 ETH

Bored Ape Yacht Club NFTs have fallen below 10 ETH, about $33,000, for the first time since August 2021, a 90% drop from their May 2022 all-time high of $350,000. The derivative collections Mutant Ape Yacht Club and Bored Ape Kennel Club are down 95% and 97% from their highs. Yuga Labs CEO Greg Solano announced layoffs in April, telling staff the collection had "lost its way," and a Bitwise Blue-Chip NFT Index Fund that included Bored Apes has lost 74% since its December 2021 launch.