Bored Ape NFTs are finally making a comeback as crypto traders rediscover their appetite for risk
CoinDesk
Bored Ape Yacht Club NFTs are rebounding as crypto traders shift back toward speculative assets, signaling a potential revival in the NFT market.Summary
Bored Ape Yacht Club (BAYC) floor prices have doubled recently, marking a significant recovery for the flagship Yuga Labs collection. New CEO Michael Figge attributes this surge to the market being previously oversold, noting that unique holder counts remained stable even as prices plummeted during the downturn. The rally, accompanied by a rise in ApeCoin and interest in other collections like Pudgy Penguins, coincides with a broader rotation by retail traders back into high-risk assets, fueled by declining confidence in some decentralized finance (DeFi) protocols and a renewed focus on the social and community aspects of digital collectibles.
(Source：CoinDesk)