Blue-chip NFT collections like Pudgy Penguins, Bored Ape Yacht Club (BAYC), and Doodles experienced substantial declines over the past week as ETH retreated from its peak.
Pudgy Penguins saw a price drop of 17.3% to 10.32 ETH, BAYC fell by 14.7% to 9.59 ETH, and Doodles dropped 18.9% to 0.73 ETH. In contrast, CryptoPunks only decreased by 1.35%.
The overall NFT market capitalization reduced to 7.7 billion USD after reaching 9.3 billion USD on August 13 due to increased ETH activity.
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