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According to CoinGecko, the world’s largest data aggregator, Bored Ape Yacht Club, a collection of NFTs with owners such as Justin Bieber and Serena Williams, is once again seeing an upward trend in the price floor.
As of the October 30 post, the collection’s minimum price is now 30 eth, a value that has not been seen in 72 days.
Bullish for cryptocurrencies
Given the positive market sentiment towards 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.
The new 30 eth nft/bored-ape-yacht-club” target=”_blank” rel=”noreferrer noopener”>minimal price, estimated at $55,286, highlights a 6.9 percent price increase in the last 24 hours and an impressive 42.4 percent in the last two weeks. However, it’s also worth noting that this is still a 51.9 percent decline over the course of the year.
At the time of writing, the market capitalization of the collection stands at 304,032 eth, or $552,750.574.
A response to the previous decline
A few months earlier, the nft market witnessed a sharp drop in floor prices for the Bored Ape Yacht Club and Mutant Ape Yacht Club collections, coinciding with the drop in floor prices for NFTs as a whole.
Even Justin Bieber took a hit, with his $1.3 million investment valued at $59,090. So, while it might be too early to say whether bitcoin spot ETFs will gain approval, it’s clear that even the interest in these investment vehicles has been enough to drive the market.
