Promising Signs of NFT Market Recovery

By Insa Monroe Aug 26, 202343Views

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The Non-Fungible Token Market Bounces Back with Promising Signs

The non-fungible token (NFT) market has recently experienced a downturn, with many blue-chip NFTs losing over 50% of their value. However, there are now signs of a recovery, as several NFT collections have seen notable market nourishment in the past 24 hours.

Main Breakdowns

The blue-chip Azuki NFTs have seen a 16.04% increase in floor price to 4.47 ETH.
DeGods NFTs have experienced a 15% increase in floor price to 4.23 ETH.
The Bored Ape Kennel Club NFTs have risen 10% in floor price to 1.7 ETH.
Bored Ape Yacht Club NFTs have had a 7.16% spike in floor price to 24 ETH.
Azuki Elementals NFTs have seen a 10.17% increase in floor price to 0.53 ETH.

Hot Take

The NFT market has shown promising signs of recovery, with several notable collections experiencing increases in floor price. This indicates renewed interest and investment in the NFT space, providing opportunities for both buyers and sellers.

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Insa Monroe

Insa's extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa's specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.