A massive surge in sales of Blue-chip NFT: ETH price stagnates.
- The NFT market saw a massive increase in sales of blue-chip NFTs. While Ethereum’s price did not show any sharp movements.
- Although trading volumes have increased recently, it failed to reach its all-time high.
- These NFT figures are linked to ETH because ETH used to be a large tender in the NFT market.
The price of an asset largely depends on the trading volume. So much so that it can be a deciding factor in market predictions. Recently, the price of Ether has hovered around $1,246.71, and trading volumes for some major NFT projects increased.
Meebits saw a 2457% increase in transactions and a 1472% increase in sales. At the same time, IP CryptoPunks, owned by Yuga Labs, also saw a 300% increase in transactions and a 255% increase in sales.
Also, in the last 24 hours, Azuki ‘web3 anime universe’ increased by 490% in transaction numbers and sales increased by 550%, per CryptoSlam, an NFT analysis platform. Azuki ‘sidekicks’ BENZ saw a massive 1000% increase in transactions and a 631% increase in sales.
This list continues to grow as the anime-based Limit Break’s DigiGaikagu collection saw a 1700% increase in transactions and a 1210% increase in sales.
Even such highs failed to boost overall trading volume as they remained significantly lower than their all-time highs.
The market trend of top 5 NFTs.
According to crypto slam, the top 5 NFTs, with details of sales and transactions along with buying and selling in the last 24 hours, are listed below.
Bored Ape Yacht Club: saw sales drop 12.27% to $2,263,761; the transactions also decreased by 3.75% at 27. At the same time, buying is down by 21.74% at 18 and selling at 33 with a fall of 26.67%.
Mutant Ape Yacht Club: saw a fall in selling by 43.23% to $1,960,524, transactions fell by 36.93% at 111, buying saw a fall of 40.91% at 52, while selling fell by 35% at 117.
Valhalla: saw a massive 461.38% increase in sales to $1,379,612, transactions also increased by 372.92% to 1,135, buying increased by 325.81% at 660, and selling also increased by 335.80% at 767 .
So rare: also saw an increase in transactions by 16.65% to $588,127, while transaction saw an 8.74% increase of 13,537, buying increased by 9.98% at 4,704, and selling increased by 8.16% to 4 703.
Azuki: saw a fall of 85.67% to $541,621, while transactions fell by 83.02% at 36. And buying fell by 50% at 35, and selling fell by 77.25% at 48.
Ethereum Market Analysis.
Ethereum was trading at $1,245.68 at press time, down 2.15%. At the same time, the market capitalization is down 2.16%, to $152 billion, although the volume saw a massive increase of 33.21% to $4 billion.
If the current trends continue, it is supposed to find support at $1,083.28 and resistance at $1,685.72.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional money exchange systems. She is also fascinated by blockchain technology and its function.
