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Huang Licheng proposed to buy over a thousand Bored Ape Yacht Club (BAYC) NFTs, but sold 19 BAYC just two days later, experiencing a drop of nearly 80% from the peak.

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Huang Licheng proposed to buy over a thousand Bored Ape Yacht Club (BAYC) NFTs, but sold 19 BAYC just two days later, experiencing a drop of nearly 80% from the peak.

Just as he was planning to propose to ApeCoin DAO to acquire thousands of boring ape NFTs to save his buddy Huang Licheng from the plummeting floor price, he sold 19 boring ape NFTs on June 24, causing the recently declining boring apes to plummet by -75.6% from their historical high.

Huang Licheng Sells Bored Ape Yacht Club (BAYC) NFTs

According to data from Etherscan, Huang Licheng executed a single batch transaction on June 24, selling 19 Bored Ape Yacht Club (BAYC) NFTs on the NFT trading platform, Blur, for a total of 651.56 ETH at an average price of 34.29 ETH per NFT.

Proposes Market Recovery Plan, Then Sells Bored Ape Yacht Club NFTs

Perhaps aiming to improve his ranking on Blur, providing NFT liquidity on the platform and selling blue-chip NFTs are part of Huang Licheng's strategy to earn more points. For example, earlier this year in February, due to flaws in the Blur point system, Huang Licheng sold hundreds of BAYC and MAYC NFTs.

Blur Airdrop Farmer Dilemma: The Thanos of the NFT World! How the Gem-Holding Buddy Can Snap and Destroy the NFT Market

Ironically, Huang Licheng recently tweeted that he would propose a plan through ApeCoin DAO to rescue the plummeting Bored Ape Yacht Club NFTs. The goal is to acquire 1,000 BAYC, 2,000 MAYC, and some CryptoPunks, then donate them to museums worldwide.

Details of the proposal: Buddy Huang Licheng Aims to be a Hero and Save the Ape Market! Proposal to Acquire Thousands of Bored Ape Yacht Club NFTs and Donate to Museums

Bored Ape Yacht Club NFTs Down Nearly 80%

The price of Bored Ape Yacht Club NFTs hit a historical high of 154.8 ETH on April 29, 2022. However, the floor price has now dropped to 37.74 ETH, a decrease of approximately -75.62%, returning to levels seen in early November 2021.

Recent reports also mention the lackluster performance of Bored Ape Yacht Club NFT prices. In this situation, another blue-chip NFT competitor, AZUKI, announced the launch of a sub-project called "Azuki Elementals."

This development may give AZUKI holders more confidence in the potential to surpass Bored Ape Yacht Club in the future.

Azuki Rising: As Bored Ape Yacht Club Continues to Decline, Could Azuki and BEANZ Take the Lead? Beeple: AZUKI RISING