As we reported as Kriptokoin.com, the green trading of Bitcoin and other cryptocurrencies after the Fed interest rates announced last week, the turmoil in the traditional financial sector, led to a revival in the NFT market, causing changes in some NFT token prices! Here are some developments over the past week…
NFT Token market value and volume increase
With the rise of Bitcoin and the crypto money market in general, the sales levels in the NFT market increased by 16.1% from 39 thousand to 45 thousand. The amount obtained from sales increased by 5.70 percent from 128 million dollars to 135 million dollars.
On the other hand, with the increasing interest in the NFT market, primary sales increased by 71.6 percent from 8 thousand to 14 thousand and the amount obtained increased by 21.39 percent. The total value of active market wallets increased by 18.27 percent from 26 thousand to 31 thousand. However, experts show that users in the market are actively interacting. However, large sellers remained at the level of 14 thousand.
Also, the NFT token market cap has dropped by 3.23 percent compared to the third week of March and is currently at 9.6 million ETH. On the other hand, the total transaction volume for NFT token projects increased by 5.74 to 217.05 thousand ETH.
NFT Token buyer and seller levels are falling!
NFT token investors increased by 0.33 percent to over 4.28 million. The gains witnessed in crypto have yet to reach the NFT market, according to experts. In addition, the number of buyers and sellers also decreased. Buyers decreased by 3 percent to 52 thousand, and sellers decreased by 9 percent to 57.7 thousand. Overall, investors were down 5.8 percent, indicating that users have been less interested in the NFT market since the past few weeks.
Trading volume drops on NFT market OpenSea
OpenSea recorded only 7.1k transactions, down 44.5 percent. Also, trading volume of NFT token marketplace OpenSea fell 58.09 percent to $1.65 million, meaning users are trading significantly less on the platform. Still, the balance of OpenSea smart contracts remained relatively stable at 72.36K, with a marginal increase of 1.54 percent.
Like OpenSea, the NFT market Blur has fallen
Blur has experienced declines in several key areas over the past few weeks. The market recorded only 104.12k transactions, down a significant 16.57 percent. Blur’s trading volume also decreased by 11.01 percent to $279.05 million. Additionally, Blur’s Smart Contract balance fell 4.83 percent to $126.36 million. The UAW offers insightful data on these declines in transactions, volume and balance, investors’ attitudes towards Blur, and market sentiment.
Solana NFTs show growth
The current state of NFT marketplaces in Solana is far from ideal and only a few platforms are showing positive growth. Unfortunately, this growth pales in comparison to its previous successes. At Solanart, the average price of NFTs decreased by 17.02 percent. However, despite this decline, the platform’s investors grew by 81.65 percent and its volume increased by 79.19 percent to $ 36 thousand. Also, OpenSea recorded positive gains in volume and investors. While the number of investors in the market increased by 5.45 percent, its volume increased by 26.15 percent and reached 15.1 thousand dollars.
Polygon NFTs record significant growth
OpenSea, the leading marketplace in the Polygon NFT scene, saw a 10.61 percent drop in average NFT prices, a 33.29 percent contraction in investor numbers, and a 58.98 percent drop in trading volume. On the other hand, Jump Trade recorded significant growth in all three categories with 69.97 percent increase in trading volume, 20.87 percent increase in the number of investors and 18.13 percent increase in average NFT prices.
Despite the slight 3.65 percent decrease in the number of traders, Decentraland witnessed a notable 1006.51 percent increase in average NFT prices and a massive 1,141.3 percent increase in trading volume. The average NFT price, number of traders, and trading volume on the OKX NFT Marketplace have all dropped drastically. Traders fell 61.22 percent, while the average price fell 89.27 percent and the platform’s weekly volume fell 93.49 percent.
On the other hand, other important news for NFT markets are as follows:
NFT volumes hit hard after banking crises
- Silicon Valley Bank (SVB) crashed, freezing the accounts of many crypto companies, including NFT marketplaces.
- The NFT market remained resilient with a short decline, becoming increasingly attractive to new investors and generating high-value sales. This includes the record-breaking $69 million sale of Beeple NFT and the $2.9 million sale of a Twitter CEO NFT.
Sony patents NFTs for game console
- Sony had taken an important step towards using NFTs by applying for a patent to use such tokens to transfer virtual items between games and consoles.
- On the other hand, Sony’s latest Web 3 patent shows that it may want to move the PlayStation gaming platform to Web3 technology.
MAYC, BAKC and other NFT Token holders will receive rewards from Undeads
- Three prizes will be awarded in the competition. MAYC NFT, which is considered the most valuable, was determined as the first prize, followed by the Bored Ape Kennel Club NFT second prize and the Otherdeed NFT third prize.
- The ongoing competition, which offers 11 ETH prize pools, will run until April 10.
Yuga Labs reveals team captains for Otherside Metaverse
- After Otherside Metaverse participates in the second round, users will be randomly assigned to one of four teams: Luster (yellow), Crimson (red), Veldan (green), or Glacial (blue).
- According to the announcement, Jimmy Wong, Brycent, Lowbellie, and Cordell Broadus (also known as the second son of Champ Medici and Snoop Dogg), all NFT enthusiasts, have been appointed as team leaders for the Otherside Metaverse Second Trip.