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Benzinga
Benzinga
Business
Samyuktha Sriram

Bored Ape Yacht Club Loan Deathspiral Could Nuke Entire NFT Market, Warns Crypto Analyst

A series of Bored Ape Yacht Club (BAYC) loan liquidations on NFT liquidity pool BendDAO could wipe out the entire NFT market, warned pseudonymous crypto analyst “doubleQ."

What Happened: BAYC holders that deposited their NFTs on BendDAO in exchange for short term Ethereum (CRYPTO: ETH) are at risk of being liquidated and losing their assets, as per data from BendDAO.

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