PANews reported on March 28th, citing CoinDesk, that despite numerous digital art projects showcasing themselves at Art Basel Hong Kong, the NFT market remains weak overall, showing no clear signs of recovery. Specifically, Bored Ape #5278 from the "Bored Ape" series is currently listed at only 7 ETH, a drop of over 100 ETH from its last transaction price, reflecting a significant valuation pullback in leading NFT assets. As an asset class once considered rapidly rising, the NFT art market has cooled considerably, with both liquidity and price performance continuing to face pressure.