According to the world’s largest data aggregator CoinGecko, Bored Ape Yacht Club, an NFT collection with owners like Justin Bieber and Serena Williams, is seeing another upward trend in its floor price.
In the October 30 post, the collection’s floor price is now at 30 ETH, a value not seen in 72 days.
Bullish for cryptocurrencies
Given the positive market sentiment for Bitcoin, many altcoins and now NFTs have also reported more promising numbers in what many in the crypto community believe is the end of a grueling winter.
🚀NFT Watch: Bored Ape @BoredApeYC bottom price now trading above 30 ETH again, last seen 72 days ago pic.twitter.com/PRxeuowgPQ
— CoinGecko (@coingecko) October 30, 2023
The new floor price of 30 ETH, estimated at $55,286, indicates a price increase of 6.9 percent in the past 24 hours and an impressive 42.4 percent in the past two weeks. Although it’s also worth noting that this is still a decline of 51.9 percent over the year.
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At the time of writing, the collection’s market cap is 304,032 ETH, or $552,750,574.
A response to the previous decline
A few months earlier, the NFT market witnessed a sharp decline in the floor prices of the Bored Ape Yacht Club and Mutant Ape Yacht Club collections, coinciding with the crash in the floor prices of NFTs as a whole.
Even Justin Bieber took a hit, with his $1.3 million investment valued at $59,090. While it may be too early to tell whether spot Bitcoin ETFs will gain approval, it is clear that even the interest in these investment vehicles has been enough to stimulate the market.
Read more: The Bored Ape Yacht Club NFT Collection Plummets More Than 90% From Its Peak of $600,000