The NFT Market Continues to Defy Bear Market as Sales Surge 23%
The non-fungible token (NFT) market has shown resilience despite the recent bear market, indicating the potential for another bull run in the near future. In the past 24 hours, the NFT market has experienced a significant surge in sales volume, with a total trading volume of $10 million, marking a 25% increase from the previous day.
Ethereum-based NFTs are leading the market, accounting for a trading sales volume of $5.8 million, representing a 39% increase from the previous day. The second most traded NFT collection is hosted on Mythos Chain, with a trading sales volume of $1.1 million, reflecting a 13% surge from the previous day.
Top-Selling NFTs This Week
1. Mutant Ape Yacht Club NFTs: This NFT collection from Yuga Labs features a limited edition of 20,000 NFTs and has recorded a sales volume of 1,220 ETH in the past 24 hours. It has a market cap of $160 million and a floor price of $8,197.
2. Bored Ape Yacht Club NFTs: Another NFT collection from Yuga Labs, it has a limited set of 10,000 NFTs and has recorded a trading sales volume of 1,180 ETH in the past 24 hours. The collection has a market capitalization of $416 million and a floor price of $41,650.
3. Milady Makers NFTs: This NFT collection from Remilia has a limited edition of 10,000 NFTs and has attracted a trading sales volume of 836 ETH in the past 24 hours. It has a market cap of $42 million and a floor price of $4,399.
4. DeGods NFTs: Dust Labs’ NFT collection features a limited supply of 10,000 NFTs and has recorded a trading sales volume of 617 ETH in the past 24 hours. It has a market capitalization of $56 million and a floor price of $6,319.
5. Azuki NFT: Chiru Labs’ NFT collection has a fixed edition of 10,000 anime-themed NFTs and has attracted a trading sales volume of 502 ETH in the past 24 hours. It has a market capitalization of $60 million and a floor price of $6,021.
Predictions for the NFT Market
Despite the recent downturn in the NFT market, many collectors and industry experts remain optimistic about a potential resurgence in the coming weeks or months. While NFT floor prices have experienced significant declines, there is still hope for a revival in the market.
Hot Take: NFT Market Shows Resilience Amidst Bear Market
Despite the recent bear market, the NFT market continues to showcase resilience and potential for growth. With a 23% surge in sales volume in the past 24 hours, NFTs hosted on Ethereum and Mythos Chain are leading the market. Top-selling NFT collections like Mutant Ape Yacht Club and Bored Ape Yacht Club have recorded impressive sales volumes and market capitalizations. While the NFT market has experienced a downturn in recent weeks, many experts predict a potential bull run in the near future. This optimism is fueled by the continued interest and demand for NFTs, as evidenced by the recent surge in trading volumes. It remains to be seen how the market will evolve, but for now, the NFT space remains resilient and full of potential.
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