Is the surge in OpenSea volume and blue-chip NFT sales an early sign of an NF...
Crypto prices are down, but a surge in blue-chip NFT sales and OpenSea's volume climbing above $1.3 billion in the last week could signal the return of the NFT bull market. In the last two months, OpenSea began to cool down from its New Year's bull run and many nonfungible token (NFT) pundits began to speculate about the beginning of a bear market once sales took a slight downward trend after closing out a record-breaking $5 billion in total volume sales in January. However, for the last seven days, the total sales volume has already exceeded the $1 billion mark and just a week into April,....
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Another OpenSea bug strikes again. It’s a less-than-ideal way to end the week for the once blue chip NFT collection, Azukis. Holders of Azuki NFTs were awakened on Friday to an email from OpenSea that allegedly advised NFT owners that many Azuki NFTs were being delisted. The once blue chip collection has had a substantial […]
Investors are quick to label high worth NFT collections as “blue-chips,” but what are the criteria for determining which project is worthy of the status? Blue-chip NFTs is a popular buzzword one will find strewn across Twitter and various crypto media. The term, “blue chip,” is borrowed from traditional finance where stocks that are considered to be the well-established extension of corporations known for their quality, reliability and financial stability. But, exactly what are blue chip NFTs and how are they identified? Nansen research analyst Louisa Choe, comments to Cointelegraph that....
Most of the NFT market is in a downtrend, but data shows funds continuing to flow into blue-chip tier projects. In May 2021 OpenSea closed out nearly $140 million in total volume. Fast forward a year and the most dominant NFT marketplace closed over $880 million in less than a week partially because of the Yuga Labs’ The Otherside mint. As a result of this mint, a fresh surge of liquidity was injected into the NFT ecosystem and as it stands the current NFT total market capitalization is over $19.4 billion. NFT market capitalization and volume. Source: NFTgoFor the past two weeks most of....
Blue-chip NFTs are rallying week-after-week, closing out a strong start to 2022, but what is driving these collections to pump? In the last two weeks, Azuki, Bored Ape Yacht Club, CloneX and Mutant Ape Yacht Club have seen significant increases in floor prices and total sales volume. Over the last seven days alone, all four projects have generated an estimated $365.9 million in value, according to data from OpenSea. While the crypto market is steadily recovering from its lengthy bloodbath, nonfungible token (NFT) marketplaces like LooksRare and OpenSea have consistently generated about....
The success of MoonBirds and traders’ anticipation of Yuga Labs’ The Otherside land sale is bringing a wave of fresh liquidity to the NFT market. Spring is here and with it came a newfound awakening for nonfungible tokens (NFTs). In the last week of March, total sales volume rallied to $20 billion, but this metric took a dive from midApril to $17.6 billion. However, on April 16, the newly landed Moonbirds NFT, pumped over $280 million worth of liquidity into the market and this, compounded with rumors of Yuga Labs’ Otherside land drop, sent the total volume sales for NFTs into a steady....