Bored Ape Yacht Club Makes A Mighty Revival

November 17, 2022
In the aftermath of the FTX bankruptcy, Bored Ape Yacht Club looked like it was in trouble.
General crypto-cynicism together with swirling rumors that BAYC had some treasury funds in FTX weighed heavy on the floor price. It even briefly dipped below 50 ETH yesterday. It looked like a 40ETH floor was imminent.
But if we’ve learned one thing from the last year, it’s don’t fade the apes. Swathes of the ape community considered this nothing more than an opportunity to buy the dip.
The reaction? They bought ~80 Apes in one day. That is the most sales in a single day since the Otherdeed drop.
In turn, the floor price has rebounded over 20% and is back up to around 60 ETH at the time of writing.

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