Ethereum NFTs, specifically the Bored Ape Yacht Club (BAYC) collection, have experienced a significant drop in interest as Bitcoin-based NFTs outperform them in terms of sales.

BAYC, once a prominent Ethereum NFT market collection, has seen its floor price plummet by over 90% from its peak about two and a half years ago. The price has dropped to below 11 ETH, marking a 50% decline since March 1st.

Data from NFT Price Floor shows that on Monday, April 15, the floor price of Bored Ape NFTs briefly dropped below 11 ETH to 10.9 ETH, which is approximately $34,000. This decrease of 12.08% in a single day was a significant dip compared to previous levels.

While the price has rebounded to 11.09 ETH, it still represents a drastic decrease from BAYC's peak of 128 ETH, equivalent to around $395,000, seen in April 2022.

In addition, CryptoSlam data shows that BAYC's sales have declined by 29% within the past month, reaching a total of $28,795,403. This trend has pushed BAYC down to fifth place in terms of sales value, demonstrating a concerning trend for the collection.

On the other hand, Bitcoin-based NFTs, particularly the Bitcoin Ordinals, have surpassed Ethereum NFTs in sales volume. The Bitcoin Ordinals achieved a sales volume of $458.8 million within the past month, outperforming Ethereum NFTs, which reached $299 million. The "Uncategorized Bitcoin Ordinals" currently hold the top spot in sales value.

Despite the decline, BAYC has had a rich history since its launch in April 2021, with strong celebrity endorsements and an active community. The collection has remained a top NFT collection with over $3 billion in recorded transactions, according to CryptoSlam data.

Even though the floor price has plummeted, certain BAYC NFTs have still been sold at much higher prices, such as BAYC #830, which sold for 504.3 ETH, around $1.92 million, just last month, according to on-chain data.