BAYC's rebound drives NFT market回暖, with the Bored Ape floor price doubling in a month, sparking recovery expectations

According to Odaily, as risk appetite in the crypto market recovers, "Bored Ape" BAYC is experiencing a significant rebound, fueling growing expectations for a revival in the NFT sector. Over the past month, its floor price has doubled from approximately 5 ETH to 10 ETH, while trading volume for the ecosystem token ApeCoin has also notably increased. Market analysis suggests that this uptrend is linked to fresh capital flowing back into high-risk assets. Recently, meme coins and other high-beta assets have outperformed defensive sectors like DeFi, indicating a recovery in retail risk appetite.

Yuga Labs' new CEO, Michael Figge, stated that blue-chip NFTs had been "oversold," with prices showing a clear divergence from user activity levels. He noted that the current rise is more of a market correction process, and the number of genuine NFT holders has not doubled in tandem, suggesting this rally remains primarily driven by valuation repair. (CoinDesk)