Blue-chip NFT collections like Pudgy Penguins and Bored Ape Yacht Club saw floor prices drop by double digits as Ether retreated from all-time highs. Pudgy Penguins fell 17.3% to 10.32 ETH, BAYC dropped 14.7% to 9.59 ETH, and Doodles went down 18.9% to 0.73 ETH. Other collections also experienced declines.

Despite the market crash, CryptoPunks remained resilient, only dropping 1.35% over the week. Pudgy Penguins led in trading volume with 2,112 ETH, followed by Moonbirds with 1,979 ETH. CryptoPunks had 1,879 ETH in volume, while BAYC had 809 ETH. Trading volumes remained high despite price drops.

The broader NFT market capitalization dropped nearly 5% to $7.7 billion, according to NFT Price Floor. The market peaked at $9.3 billion on Aug. 13, fueled by increased NFT activity following an ETH surge. However, on Aug. 18, the market cap fell to $8.1 billion, wiping out $1.2 billion from digital collectible valuations.

Read more at Cointelegraph: Blue-Chip NFTs Tumble as ETH Retreats From All-Time Highs