Pundits say crashing floor prices and sell volume signal that ‘the NFT market...
High-profile NFT sales have dominated the headlines, but the deeper analysis shows that most NFTs are worthless and that the market is highly illiquid. Nonfungible tokens (NFTs) dominated crypto and mainstream media headlines all throughout 2021 as investors who held CryptoPunks and other projects minted prior to 2018 were finally rewarded for their patience. Meanwhile, newer projects like the Bored Ape Yacht Club and Art Blocks Curated saw some of their rarer pieces sell for millions of dollars. Despite the million-dollar sales for select one-of-a-kind NFTs and the record-breaking sell....
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The crypto markets has plunged by 14% over the past 24 hours, including the double whammy of Ethereum’s loss of 18% and Bitcon’s dip by 16% while NFT sales are also suffering from the crypto market crash but primarily because of ETH prices plummeting. On a lighter note, NFT trading volume has incremented over the 24 hours by 54%, which is an excellent opportunity for collectors to hoard prized NFT collections. The prices of high-end and popular nonfungible token collections like Bored Ape Yacht Club have also plunged; its lowest NFT floor price dropped by as much as 16%, or $107,000. The....
NFT sell volume declines sharply after Terra’s blow up led to stablecoins dropping their peg and Bitcoin’s dip below $30,000 raises fear of a prolonged bear market. Without fail, crypto has a way of humbling even the most self-assured and this market is definitely not for the faint of heart. NFT investors have entered what appears to be a bear market and the recent chaos is also impacting community morale. The decline in NFT prices occurred as the United States Federal Reserve raised interest rates, Terra’s Luna and UST-based platforms collapsed and traders came to terms with the reality....
Eight of the top 10 NFT projects have posted at least a 115% increase in 24-hour trading volume as the floor prices of many top NFT collections tumble. NFT trading volume has surged over the past 24 hours as crypto markets tank taking floor prices of many top NFT collections along with it.A long list of top NFT projects such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Crypto Punks, and Sorare have all seen more than 100% increases in 24-hour trading volumes as investors look to snap up cheaper NFTs as floor prices tumble.According to data from CryptoSlam, eight of the top....
On-chain data shows the Bitcoin taker buy/sell volume is now showing a “buy” signal as the crypto looks to be gearing up for a new rally. Bitcoin Taker Buy/Sell Volume Says Now May Be The Time To Buy As pointed out by an analyst in a CryptoQuant post, the BTC taker buy volume recently reached a value that has historically been a green signal for the crypto. The “taker buy volume” is an indicator that measures the long volume of Bitcoin on derivatives exchanges. The metric works by checking orders on the book to see how many takers are buyers. This volume divided by....
This week’s market-wide correction lead to a sharp decline in NFT sales as decreased demand for digital collectibles led to a drop in the floor price of most major projects. The nonfungible token (NFT) sector has seen an explosion of interest all throughout 2021 and the month of August witnessed record-breaking trading volumes as one-of-a-kind digital collectibles sold for prices in excess of $1 million dollars on a regular basis. As is usually the case in the cryptocurrency ecosystem, hot sectors can cool down in the span of mere hours or days and this appears to be the case for the NFT....