Why NFTs can be a riskier investment than cryptocurrencies, report
New 90+page research report on NFTs discusses how investors get stuck holding NFT hot potatoes when liquidity dries up. Investors who survived the 2008 financial crisis understand the importance of liquidity. When an economic recession starts, deflationary pressure hits the market, and buyers disappear. Sellers frantically try to sell assets before their prices drop further, but buyers want to de-risk and go into safe-haven assets, such as treasury bonds and money market funds. The lack of liquidity associated with nonfungible assets is the one reason why investors may think they are....
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Ethereum NFTs have gained the most clout in the crypto space. These NFTs have recorded sales of up to 69.3% for a single piece of artwork. Investors are moving towards owning NFTs as a form of long-term investment in addition to their cryptocurrency holdings. Although other blockchains are coming up where NFTs can be minted, the majority of it still happens on Ethereum. This is why investors have flocked towards non-fungible tokens minted on the blockchain. Its growing popularity has led to some striking similarities with the pattern of holding seen in cryptocurrencies. For example, the....
Major Japanese cryptocurrency exchange Coincheck launched its own NFT marketplace back in March 2021. At least one out of four cryptocurrency investors in Japan had an experience of holding nonfungible tokens (NFTs), according to a new survey.Major Japanese crypto exchange BitBank conducted an online survey diving into the NFT investment trends in the Japanese cryptocurrency market.Releasing the survey results on Nov. 25, BitBank said that it polled 2,061 cryptocurrency users within a period from Oct. 26 to Nov. 1, 2021. The respondents included clients of BitBank as well as crypto holders....
But despite the strong rebound, AVAX remains trapped inside a broader falling range. Avalanche (AVAX) rallied by around 20% in the last two days as a new report revealed millions of dollars flowing into AVAX-based investment products.Penned by CoinShares, an institutional crypto fund manager, the report highlighted that Avalanche-based investment vehicles attracted about $25 million in the week ending Feb. 21, the second-biggest inflow recorded in the said period after Bitcoin's (BTC) $89 million. Flow of assets. Source: Bloomberg, CoinSharesIn contrast, Ether (ETH), Avalanche's top rival....
NFTs are tokenized assets that can be staked and maintained secure on NFT staking platforms. We all know about staking cryptocurrencies, whereby you make a return on your investment. Nowadays, you can also make money by staking your nonfungible tokens (NFTs)! By staking your nonfungible tokens (NFTs) on NFT staking platforms, you can make additional returns on your investment. NFTs have become even more attractive due to this development.More and more people are looking for new ways to make money without having to work for it. Passive income used to be something wealthy people could get....
Crypto research firm Nansen published a report shared with NewsBTC, on non-fungible tokens (NFTs) and their performance amid the persistent bearish trend across the industry. NFTs have been a hot sector since 2021 as they facilitated broader adoption of digital assets but have taken a toll as Bitcoin and other cryptocurrencies trend to the downside. Related Reading | Axie Infinity Sales Record A Massive Slump, Losing Over $120 Million According to Nansen, their NFT Blue Chip-10 and NFT 500 Indexes displayed strength last month. At that time, Bitcoin and larger cryptocurrencies were on....