Are NFTs Back? Bored Ape Fetches $1.2 Million!

Discover the latest buzz in the NFT world as Bored Ape NFT enthusiasts celebrate a $1.2 million sale of Bored Ape #1734, igniting hope despite recent challenges in the market.

TL;DR

• Bored Ape NFT market soars with a staggering $1.2 million sale of Bored Ape #1734, sparking optimism among enthusiasts.
• After a recent slump, Bored Ape Yacht Club (BAYC) experiences an 8% surge in floor price. Volume and sales still suffer significant declines, raising concerns about the market’s future.
• Data from DappRadar shows Bored Ape Yacht Club leading NFT collections, with an 80% increase in average price and a rise in market capitalisation, sparking hope for a positive trend.

Bored Ape #1734 Million Dollar Sale

The Bored Ape Yacht Club (BAYC) by Yuga Labs is making headlines with a staggering $1.2 million sale of bored Ape #1734. The market was in a slump not long ago, with projects like Bored Ape Yacht Club experiencing a significant drop in value. The minimum price hit a 20-month low, leading to concerns about Apecoin (APE) as well.

But now, a remarkable turn of events has reignited hope. On OpenSea the Bored Ape Yacht Club collection, has seen an 8% surge in floor price over the last week, reaching around 35 ETH, a considerable improvement from 32 ETH just a week ago. Yet, challenges remain. Volume and sales have taken significant hits, plummeting by 91% and 92%, respectively. While the surge in floor price is encouraging, low activity raises questions about the market’s future.

Data from DappRadar paints a more optimistic picture, with Bored Ape Yacht Club leading NFT collections. The average price has skyrocketed by 80%, and market capitalisation has risen by nearly 5%, hinting at growing investor interest. Transaction volume also soared by over 82%. Bored Ape #1734’s record-breaking sale in the last 30 days boosts the collection’s position, sparking hope for a positive trend.