The past week has seen a notable decrease in the price floor values of top Ethereum NFT collections, while Bitcoin Ordinals have shown an increase in value.

Data from CoinGecko and Magic Eden reveals that collections like Bored Ape Yacht Club, Mutant Ape Yacht Club, and Pudgy Penguins have experienced declines of 37%, 42%, and 38% in their price floors, respectively. On the other hand, the NodeMonkes Ordinals collection on the Bitcoin blockchain has seen a 65% increase in value.

The price floor represents the minimum price at which an NFT from a collection is available for purchase. This fluctuation in value has been accompanied by a decrease in monthly trading volumes and the number of trades for NFTs on the Ethereum blockchain.

According to The Block’s Data Dashboard, trading volume in February dropped to $786 million, down over 10% from January’s $868 million. The total number of trades on Ethereum-based NFT marketplaces has also decreased, from over 627,000 in January to 536,000 in February and 160,000 in March. This decline has impacted monthly revenue for NFT marketplaces, with a 51% drop from $3.4 million in December to $1.6 million in February, affecting platforms like OpenSea, X2Y2, and LooksRare.

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