- Bored Ape Yacht Club floor prices surged from roughly 5 ETH to over 10 ETH within a month
- Yuga Labs CEO Michael Figge says the collection stayed heavily held even during the market collapse
- Pudgy Penguins and other blue-chip NFTs are also rallying as NFT lending activity returns
Bored Ape Yacht Club floor prices have doubled over the past month, climbing from around 5 ETH to more than 10 ETH as traders rotate back into blue-chip NFT collections after a brutal multi-year drawdown.
At the same time, ApeCoin also rebounded sharply, rising from below $0.10 to roughly $0.16 alongside noticeably stronger trading volumes.
Yuga’s CEO Says The Market Simply Oversold
Yuga Labs CEO Michael Figge believes the recovery has less to do with hype returning and more to do with the market finally correcting an extreme oversell situation.
According to Figge, one key metric stayed surprisingly strong throughout the NFT collapse: holder participation.
While prices cratered for months, the number of unique holders across major collections remained relatively stable. In other words, many long-term collectors simply refused to leave even while valuations collapsed around them.
“It was oversold,” Figge said plainly. And honestly, the numbers do support that argument.
Other Blue-Chip NFTs Are Moving Too
BAYC isn’t alone in the rebound. Collections like Pudgy Penguins and several other established NFT brands have also started seeing stronger floor prices and renewed market activity over recent weeks.
NFT-backed lending markets are also beginning to recover after months of stagnation. That matters because lending activity tends to signal traders are once again willing to treat NFTs as collateralizable digital assets rather than purely speculative collectibles.
The return of liquidity around blue-chip collections is quietly becoming one of the more interesting shifts happening across crypto right now.
DeFi Problems May Be Helping NFTs
Interestingly, Figge also pointed to growing security concerns inside DeFi as part of the renewed NFT interest.
After repeated protocol exploits, bridge hacks, and smart contract attacks over the past year, some traders appear increasingly interested in assets tied more closely to community identity and cultural value rather than purely financial engineering.
A BAYC NFT may still be volatile, but it doesn’t suddenly disappear because a liquidity pool was drained overnight. That social ownership layer still matters more than many critics admit.
NFTs Are Trying To Rebuild Slowly
Nobody serious is calling this a full NFT supercycle revival yet. Trading volumes remain far below the peak mania levels of 2021 and 2022, and most collections still sit dramatically below all-time highs.
But doubling in a month while management stays relatively measured instead of screaming “NFT summer” everywhere probably makes this rebound more credible than many previous false starts.
And honestly, after years of being declared dead every few months, the fact blue-chip NFTs are showing life again at all is becoming increasingly difficult for the market to completely ignore.
