SOL - Buy This 1 Crypto If You're Excited About the NFT Market Rebound
For the past six months, the non-fungible token (NFT) market has been in free fall. Owners of expensive NFTs have seen prices collapse, and trading volume is down across the board on nearly every NFT marketplace and every blockchain. Even the Bored Ape Yacht Club -- generally considered to be the most successful NFT collection ever -- has not been impervious to falling prices and sagging market sentiment.
But things have been turning around both for Bored Ape NFT collectors and ApeCoin (CRYPTO: APE) , the crypto that powers the entire Bored Ape ecosystem. Heading into December, floor prices of Bored Ape NFTs were up by nearly 34%, and the price of ApeCoin had sustained a 31% rally. So is it time to start thinking about investing in ApeCoin?
Investors have several options for playing the NFT market rally. Most obviously, they could invest in blockchains such as Ethereum (CRYPTO: ETH) or Solana (CRYPTO: SOL) that account for the lion's share of all NFT trading and sales volume. But the best way to play the rebound in the NFT market is by investing in a pure-play NFT crypto such as ApeCoin. This gives you exposure to the full upside of any rally.
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Buy This 1 Crypto If You're Excited About the NFT Market Rebound