Some of the issue lies in the mechanics of NFT trading, where floor prices will adjust as ETH’s price fluctuates against the U.S. dollar. Despite ETH’s climb from $1,000 to nearly $2,000 in the past month, lending services like BendDAO remain denominated in their originally lended token, causing some Bored Apes to be liquidated at higher dollar prices than where they were purchased.
Many Bored Ape NFTs Are in Danger of Getting Liquidated as Borrowed Money Comes Back to Bite
