- Binance NFT to cease BAYC and MAYC NFT staking by August 2025.
- Changes in APE NFT staking mechanism cited as the reason.
- Community reaction focused on logistics; lack of prominent discussions.
Binance NFT will end staking for BAYC and MAYC NFTs from August 1, 2025, due to changes in APE NFT staking mechanisms.
The decision impacts NFT users by altering staking reward dynamics, potentially influencing market demand and user strategies around BAYC and MAYC NFTs.
Binance to Unstake BAYC/MAYC NFTs by August 3, 2025
Binance NFT announced plans to stop staking for Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs in response to changes in the APE NFT mechanism. The announcement was official from Binance’s team without personal comment from current executives.
All affected NFTs will be unstaked and returned to users’ Binance accounts by August 3, 2025. Consequently, BAYC/MAYC NFTs will not earn staking rewards thereafter. The Binance platform mentioned no specific changes to funding or institutional support related to this action.
Due to adjustments in the APE NFT staking mechanism, Binance NFT will officially discontinue the staking products for BAYC and MAYC NFT starting from 2025-08-01 06:00 (UTC). All BAYC and MAYC NFTs currently staked on the Binance NFT platform will be automatically unstaked at 2025-08-01 06:00 (UTC) and be returned to users’ Binance accounts by 2025-08-03 06:00 (UTC). Once unstaked, these NFTs will no longer generate staking rewards. – Binance Team, Official Announcement, Binance
ApeCoin Market Reaction and Expert Analysis
Did you know? Binance NFT’s decision to halt staking products for BAYC and MAYC follows a pattern seen previously with exchanges ending similar programs due to changes in underlying protocols or market strategies.
According to CoinMarketCap, ApeCoin (APE) trades at $0.64 with a market cap of $0.48 billion and 24-hour trading volume at $42.94 million, experiencing a 34.57% drop. It recorded a 1.78% decrease within 24 hours and 3.80% over the week.
Coincu research suggests possible market shifts could arise from this change, affecting APE token demand. Historical trends indicate potential increased self-custody practices if centralized exchange staking decreases. For more context, see Binance’s new marketing initiatives and user engagement strategies.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/nfts-news/binance-nft-ends-bayc-mayc-staking/