BAYC flooring prices doubled within a month; blue-chip NFTs lead market recovery.

CoinFeed reported on May 10th that, according to Coindesk, risk appetite in the crypto market has rebounded, with blue-chip NFT project Bored Ape Yacht Club (BAYC) experiencing a strong rebound, driving the sector's recovery. Data shows that BAYC's floor price rose from 5 ETH at the beginning of the month to 10 ETH; its ecosystem token, APE, also strengthened, rising from below $0.10 to $0.16, with a significant increase in trading volume. This rebound, accompanied by higher-risk assets like memecoin outperforming the DeFi sector, reflects a return of retail funds. Michael Figge, the new CEO of Yuga Labs, believes that BAYC was previously oversold, with the price drop disconnected from user activity, and the number of unique holders actually increasing. This round of gains is a corrective rebound rather than pure speculation.