Ethereum Slide Pushes NFT Floors and Market Cap Lower

Ethereum fell about 28% over the past 30 days to near $1,640. The decline reduced the dollar value of blue-chip NFT floors.

CoinGecko data shows CryptoPunks at 32.5 ETH (about $53,254), Bored Ape Yacht Club at 9.05 ETH (about $14,828) and Pudgy Penguins at 4.48 ETH (about $7,335).

Measured in ETH, CryptoPunks’ floor rose from 31 ETH to 32.5 ETH over the month, while its dollar floor dropped roughly 29% from above $71,000.

BAYC’s dollar floor fell about 39% while its ETH-denominated floor declined about 9.4%. Pudgy Penguins’ dollar floor declined about 42% versus an ETH drop near 15%.

Aggregated floor valuations across trackers range from about $1.4 billion to $2.4 billion. CryptoPunks represents roughly 27% of that total.

Trading activity has weakened: CoinGecko recorded almost no CryptoPunks sales in the past 24 hours, and daily volume across nearly 1,800 tracked collections totaled under $3 million.

NFT Price Floor, a data aggregator founded in 2021, announced it will shut down on June 30, citing insufficient funding and widespread free use of the service.

Ethereum trades about 67% below its August 2025 peak of $4,946 and has lost roughly 34% over the past year. US spot ETH funds had a 17-session outflow streak in May that removed more than $401 million.

NFT analyst wale.moca, a former Azuki researcher, wrote: “The price of ETH is the biggest vulnerability NFTs have. It’s cool when floor price is up 5 ETH but it’s meaningless if ETH/USD is down -30% in the meantime.”

Some projects are shifting focus: Pudgy Penguins signed a partnership with Manchester City to reach mainstream audiences. Other collections saw brief recoveries earlier in the cycle, while BAYC’s floor has returned to prior lows measured in ETH below 10.

At the time of reporting, weaker ETH prices, thin trading volume and reduced funding for data services coincided with lower dollar-denominated NFT floors and thinner market liquidity.