NFT market cap jumps 15% in a day as BAYC floor price doubles in a month amid rising trading volumes.

The NFT market has shown signs of recovery with the overall market cap rising by over 15% in a single day, reaching $4.312 billion. BoredApeYachtClub (BAYC) led this surge by doubling its floor price to 10.88 ETH within a month, alongside an 18% increase in daily trading volume. Other NFT collections like PudgyPenguins and Normies also saw gains, while trading volumes on platforms such as OpenSea, Blur, NFTX, and Sudoswap surged significantly, indicating growing market activity. Despite this momentum and a sharp rise in sales numbers, the weekly sales volume slightly declined, suggesting cautious optimism as the market may not return to its previous peaks soon.