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Bored Ape Yacht Club floor prices doubled to 10 ETH as Yuga Labs CEO Michael Figge points to a market adjustment and renewed investor interest.
The floor price for the Bored Ape Yacht Club (BAYC) collection has recently doubled, climbing from near 5 ETH to approximately 10 ETH, as Yuga Labs leadership suggests the NFT sector was undervalued during the prolonged bear market [1]. This rebound coincides with renewed interest in speculative digital assets and gains in related tokens like ApeCoin [1].
Key takeaways
Michael Figge, the recently appointed CEO of Yuga Labs, argues that NFT prices fell excessively during the downturn, becoming disconnected from the underlying strength of the community [1]. He noted that unique holder counts for BAYC remained resilient or grew even as valuations plummeted, indicating that blue-chip collections had become oversold [1]. This perspective aligns with a broader trend where cryptocurrency investors are reassessing their portfolios, moving away from past hype cycles toward more calculated decisions based on durability and project strength [3].
The current activity builds on the
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The total supply of ApeCoin is permanently fixed at 1 billion tokens, all minted at once.
ApeCoin is an ERC-20 token launched on the Ethereum blockchain, secured by Ethereum's proof-of-work (POW) consensus mechanism.
The current market cap of ApeCoin is $129,057,205 USD, according to CoinMarketCap.
AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jun 13, 2026 · How we report
The current price of ApeCoin is $0.129057 USD, according to CoinMarketCap.
ApeCoin is used as a governance token, allowing holders to participate in the APE DAO and vote on governance decisions, and also as a utility token for payments and in-game earnings.