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Bored Ape floor prices have doubled in a month as Yuga Labs CEO Michael Figge says blue-chip NFTs were oversold.<\/p>\n
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Bored Ape Yacht Club floor prices have doubled over the past month, climbing from around 5 ETH to over 10 ETH as traders rotate back into speculative assets. ApeCoin, the ecosystem\u2019s governance token, has also rallied from below $0.10 to roughly $0.16 alongside a sharp increase in trading volumes.<\/p>\n
Yuga Labs CEO Michael Figge told analysts the rally reflects genuine market correction. \u201cIt\u2019s clear from the numbers that for some time, as far as blue-chip digital collectibles go, it was oversold,\u201d Figge said<\/a>.<\/p>\n The rebound comes as memecoins and other higher-risk assets outperform more defensive sectors such as DeFi, suggesting retail traders are returning after months of subdued activity.<\/p>\n <\/p>\n Pudgy Penguins has also rallied sharply in recent weeks, and traders are speculating about a long-rumoured OpenSea token launch reigniting broader marketplace activity.<\/p>\n Figge acknowledged that speculation remains central. \u201cIt would be naive to say financial speculation isn\u2019t a huge driver,\u201d he said. \u201cWhatever happens in this cycle will rhyme with the last one, but it\u2019s never going to be exactly the same.\u201d<\/p>\n Yuga Labs has meanwhile shifted its focus toward community building, hosting more than 30 in-person meetups worldwide over the past month. \u201cA lot of what made Bored Ape work in the first place, the social layer, hasn\u2019t really been serviced in recent years,\u201d Figge said.<\/p>\n Figge pushed back on critics noting that unique holder counts have not doubled alongside prices. \u201cA cynic will say prices doubled and the unique holder count didn\u2019t double,\u201d he said. \u201cBut that\u2019s really just recovery from a period where things fell disproportionately.\u201d<\/p>\nWhat is driving the Bored Ape comeback<\/h2>\n
Market data and holder context<\/h3>\n