Blue-chip NFTs Struggle as Prices Drop
According to crypto data analytics firm Nansen, “blue-chip” NFTs have been experiencing a decline in prices over the past month. The price floors of major collections like Bored Ape Yacht Club have dropped by more than 25%. However, there are a few collections that have been bucking the trend, such as MiladyMaker and Sproto Gremlins, which have seen significant increases in their price floors.
- Many major NFT collections have seen their price floors drop by over 25%
- DeGods has lost 55% in the last 30 days
- Azuki is down 36% due to controversy surrounding its new collection
- MiladyMaker NFT collection has seen a 66% increase in price floor
- Sproto Gremlins NFT collection has shot up by over 250%
Smart Investments in NFTs
Nansen highlights a smart investor who bought Sprotos at a low price and made significant gains. This investor bought 23 Sprotos 81 days ago at a price of 0.03 ETH each, only to buy another nine at a much higher price the next day. With Sprotos currently having a price floor of 1.15 ETH, the investor remains over 10x up on their initial purchase.
Consider Wall Street Memes ($WSM)
For crypto investors looking for alternatives, Wall Street Memes is launching its own meme coin token called $WSM. With over $25 million raised in its presale and backing from major influencers and analysts, $WSM is seen as a promising investment. The presale is ending in under 36 days, providing a limited time for investors to get involved and potentially surpass the success of coins like Pepe Coin, Dogecoin, and Shiba Inu.
Hot Take:
The NFT market is experiencing volatility, with some major collections seeing significant price drops. However, there are still opportunities for smart investors to make gains. Wall Street Memes’ $WSM token presents an interesting alternative for those looking to diversify their crypto investments. With a successful presale and support from industry influencers, $WSM has the potential to become a prominent player in the meme coin market. Don’t miss out on the chance to get involved and potentially reap the rewards.
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