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Binance limits boring monkey staking after high demand
Binance Bored Ape staking has now been limited due to high demand. Bored Ape Yacht Club (BAYC) NFTs lead the volume in bought, sold and traded collections on the Binance NFT marketplace. The staking of BAYC NFTs allows users to earn rewards in the form of Ape Coin (APE) for holding and supporting the NFTs.
Which NFTs does the Binance Bored Ape Stake Program include?
This limit on the Binance Bored Ape stake program affects three of Yuga Lab’s most famous gatherings: Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Bored Ape Kennel Club (BAKC). Binance NFT limited stakes to a maximum of 3 NFT per user, after experiencing high demand and surprising stake rewards. The high demand put a strain on the Binance NFT platform, causing delays and technical issues. Binance claims to focus on ensuring a smooth and stable experience for all users with this update.
To bet NFTs on Binance NFT, users must have the corresponding NFT in their official account. They then choose to stake their NFTs in the “Staking” section of the Binance NFT platform. Consequently, these staked NFTs create rewards in Ape Coin.
Image credit: Binance NFT
What is Binance NFT?
An NFT marketplace that allows users to buy, sell and trade NFTs. These unique digital assets and cannot be replicated or exchanged for other assets. They represent ownership of digital collectibles, such as art, music and game items.
In addition to Bored Ape Yacht Club NFTs, Binance NFT also allows users to trade hundreds of NFT collections. These include NFTs from popular projects such as Pudgy Penguins, Doodles and Azuki.
In conclusion, Binance Bored Ape staking created an incredible demand for the platform. Binance NFT capping Bored Ape stakes once again proves the importance of the Yuga Labs collection in the space. A surprising reversal from the leading NFT market is causing some collectors to reconsider the decision to stake their BAYC NFTs from now on.
