Crazy BAYC Prices, Jeffrey Huang's Actions Caused It!

<p>&nbsp;"Finally hear the news about BAYC, if you don't just keep quiet."</p><p><br /></p><p>Bored Ape Yacht Club (BAYC)'s non-fungible token (NFT) price saw some volatility over the weekend as Jeffrey Huang aka Machi Big Brother increased his sales of BAYC and bought multiple NFTs from the collection.</p><p><br /></p><p>According to data from NFT market Blur, Huang sold over 50 BAYC in the past few days in a single transaction while also redeeming 19 of those NFTs for 651 Ethereum (ETH) worth $1.2 million.</p><p><br /></p><p>It is well known that the NFT BAYC floor price has been under significant pressure for the past few months, but it has gradually increased from November 2021 following the move made by Huang.</p><p><br /></p><p><br /></p><p>The lowest price for NFT BAYC was reached in April 2022 at around 152 ETH, but the figure recently dropped to 33 ETH worth $62,000.</p><p><br /></p><p>However, the BAYC collection saw a recovery on Sunday when Huang not only collected 14 BAYC but also bought one NFT from the collection for 41 ETH worth $77,000.</p><p><br /></p><p>On the same day, he who collected BAYC also said on his Twitter account that the best meme wins BAYC.</p><p><br /></p><p>The revelation comes just a week after high-profile Bored App Trade blockchain spy ZachXBT was sued for defaming Huang for converting hundreds of millions of dollars worth of illegal money into ETH.</p><p><br /></p><p>As of this writing, the price of BAYC-founded ApeCoin (APE) has surged by 3.29% to $2.36 in the past 24 hours with a market cap of $870 million and has gained 18.32% over the past week.</p>