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In the last 24hrs, stocks that aren’t financial have gone up in a new way

In_the_last_24hrs,_stocks_that_aren't_financial_have_gone_up_in

In the last twenty-four hours, there have been a lot more NFT transactions, but crypto-markets have gone down. As the floor prices of several well-known NFT collections have also gone down, investors have started buying them for cheap.

Popular NFTs like Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Crypto Punks, and Sorare have all seen their 24-hour trading volumes go up by more than 100%.

According to CryptoSlam, the number of trades on the NFT market have gone up by 54 percent in the last 24 hours.

Shaken by the bear market, but still going strong?

When crypto prices started going down at the beginning of last month, the number of NFT trades dropped sharply, and the NFT market has been in bad shape ever since. Even so, DappRadar says that the NFT market seems to be stable, even though there are more experimental businesses like Goblintown and ShitBeast than ever before.

Statistics from DappRadar show that the OpenSea market has benefited the most from the increase in the number of trades. The trading volume and revenue of the platform went up by 173.43% and $23.88M, respectively.

During the same time period, there were 15.39 percent fewer traders on the platform, bringing the total number to 29,300. This showed that only a small number of investors with a lot of money are moving the market.

Eight of the top ten NFT projects by 24-hour sales volume have seen their trade volume rise by at least 115%. BAYC NFTs from Yuga Labs are currently in the first place, with a 24-hour increase of 262.79 percent and $7.1 million in revenue.

More trade, but prices are going down?

NFT Price Floor says that the floor price for the popular Bored Ape Yacht Club, which is the price of the least available NFT listed on a secondary market, has gone down to about $107,000. In U.S. dollars, this means that the price has dropped by 16 percent in the last 24 hours.

When the loss is measured in ETH, it is not as bad: The price floor for Bored Ape has gone down by about 11%, to about 74.5 ETH. Even so, the project’s value has gone down in the last month and a half. For example, on April 29, the lowest price for a Bored Ape was 152 ETH, which was about $429,000 when this was written.

Today, the value of other luxury collections is also going down. The MAYC has gone down by 22% to about $20,100 (14 ETH), and Moonbirds has gone down by 16% to about $23,250. (16.2 ETH). Doodles have lost about 21% of its floor value and is now worth about $11,650 (8.1 ETH), while Meebits has lost about 27% of its value and is now worth $4,050. (2.8 ETH).

Can NFT go even higher this year?

DappRadar says that the number of transactions on the NFT market reached $25 billion in 2021. It said that it is on track to make more than that this year.

A little over a month ago, on May 1, the main marketplace, OpenSea, sold $476 million worth of non-fungible tokens based on Ethereum in just one day. So, the question is: When will the market go to a new level?

About Humano

He is a freelance writer based in Turkey. He loves NFTs, football, film and technology.

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