Elon Musk recently changed his Twitter profile picture to that of a Bored Ape Yacht Club (BAYC) collage.
The image is taken from Sothebys sale of 101 Bored Ape Yacht Club NFTs back last year.
Amidst the past week, BAYC and ApeCoin have seen high levels of volatilty. This comes after heavy backlash from the community after transaction fees of over $180M were incurred on $320M worth of sales. These sales were in relation to the auction of virtual land on BAYCs metaverse project. BAYC owners, Yuga Labs are now seeking to refund the high transaction fees to the community who weren’t successful in obtaining virtual land.
BAYCs ApeCoin has in turn had high volatility in the past few days. Rising to a high of $26.81 last Monday, before dropping to a low of $13.93 today. The coin is trading at $15.57 at time of press, according to data from CoinMarketCap.