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BAYC floor price doubles within a month, signs of NFT market recovery becoming evident
Deep Tide TechFlow News, May 10th, according to CoinDesk reports, the floor price of Bored Ape (BAYC) NFTs has risen from about 5 ETH to over 10 ETH in the past month, and ApeCoin (APE) has also rebounded from below $0.10 to approximately $0.16, with trading volume significantly increasing.
Meanwhile, security vulnerabilities frequently occur in the DeFi space, and yields continue to decline, prompting some funds to shift toward the NFT market.
The trend of NFT financialization is also heating up, with a recent $2.8 million loan transaction collateralized by CryptoPunk drawing widespread attention, with the lender expected to earn about $138k in interest within 90 days.
Blue-chip series like Pudgy Penguins are also strengthening simultaneously, and market expectations of a potential token issuance by OpenSea further boost sentiment.