Azuki collections, down more than 60% in past week, leads drop
The NFT lending market also sees a spike in defaulted loans
The nonfungible-token market witnessed a dramatic selloff over the last week, as prices of major collections tumbled amid growing investor doubts over just on how valuable NFTs should be.
Data from crypto data platform Parsec shows that the floor price of Azuki has dropped by more than 60% in the past week, while that of other well-known NFT collections like Bored Ape Yacht Club, Mutant Ape Yacht Club and Pudgy Penguins dropped in a range of 14% to 31%.