Bored Ape Yacht Club (BAYC) NFTs have seen a significant resurgence, with floor prices doubling from 5 ETH to 10 ETH over the past month. This surge reflects a broader revival in the NFT market as speculative interest returns to crypto. Apecoin (APE), the governance token for the BAYC ecosystem, has also rallied from below $0.10 to about $0.16, driven by increased trading volumes.The rebound in BAYC NFTs coincides with a shift in trader sentiment towards riskier assets, as evidenced by the outperformance of memecoins and other high-beta sectors over decentralized finance (DeFi) tokens. Yuga Labs' CEO, Michael Figge, attributes the recovery to a correction from previous overselling, noting that unique holder numbers have remained strong despite price fluctuations. The NFT market's revival is further supported by institutional interest in digital art, with major acquisitions and exhibitions by institutions like MoMA and LACMA.Additionally, the NFT financial market is showing signs of activity, highlighted by a $2.8 million NFT-backed loan involving a CryptoPunk. While speculation remains a key market driver, Yuga Labs is focusing on community-building efforts, hosting over 30 in-person meetups globally to strengthen the social aspects of the Bored Ape community.