The crypto markets has plunged by 14% over the past 24 hours, including the double whammy of Ethereum\u2019s loss of 18% and Bitcon\u2019s dip by 16% while NFT sales are also suffering from the crypto market crash but primarily because of ETH prices plummeting. <\/p>\n
On a lighter note, NFT trading volume has incremented over the 24 hours by 54%, which is an excellent opportunity for collectors to hoard prized NFT collections.<\/p>\n
The prices of high-end and popular nonfungible token collections like Bored Ape Yacht Club have also plunged; its lowest NFT floor price dropped by as much as 16%, or $107,000. The Bored Ape floor price plummeted by 11%, or roughly 74.5 ETH.<\/p>\n
Nevertheless, the project has depreciated since May. On April 29, you can buy the cheapest Bored Ape NFT at 152 ETH or a whopping $429,000. You\u2019ll see the enormous difference in the numbers.<\/p>\n
Crypto Winter: Total Market Cap Drops By $1 Trillion<\/p>\n
The total market cap of all cryptocurrencies has dropped to as much as $969 billion on Monday. And NFT collections are following suit.<\/p>\n
More popular blue-chip nonfungible token collections are crashing like Doodles dropping by 21% or a current floor price of 8.1 ETH or equivalent to $11,650, Mutant Ape Yacht Club decreased by 22% or 14 ETH which is around $20,100, Meebits that toggled down by 27% or a floor price of 2.8 ETH which is about $4.050, and Moonbirds that spiraled down by 16% which is about 16.2 ETH or $23,250.<\/p>\n\n
BTC total market cap at $429 billion on the daily chart | Source: TradingView.com<\/p>\n
Suggested Reading |\u00a0Dogecoin Shed 91% Of Its Value Since 2021 High \u2013 A Musk Tweet To Pump DOGE?<\/p>\n
NFT Floor Price Drowns; Trading Volume Escalates<\/p>\n
While the NFT floor price is in the hock, trading volume is increasing. Many collectors are taking advantage of falling ETH prices to grab blue-chip NFT collections at lower price tags.<\/p>\n
Total nonfungible token sales are now at $39 million, which may seem lower than the sales in early May, but it\u2019s a significant improvement compared to the previous days. NFT market has risen remarkably by 54% in terms of trading volume over the past 24 hours.<\/p>\n
Trading volume in 2021 was at $25 billion, making this year\u2019s stats a massive improvement. And the numbers can still increase in the following days. OpenSea NFT sales spiked to as much as $476 million. The nonfungible token market appears to be more robust now than ever despite the crypto struggles and uncertainty.<\/p>\n
Suggested Reading |\u00a0Ether Drops Below $1,400, Pummeled By US Inflation And Difficulty Bomb Setback<\/p>\n
Featured image from Blockworks, chart from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
The crypto markets has plunged by 14% over the past 24 hours, including the double whammy of Ethereum\u2019s loss of 18% and Bitcon\u2019s dip by 16% while NFT sales are also suffering from the crypto market crash but primarily because of ETH prices plummeting. <\/p>\n
On a lighter note, NFT trading volume has incremented over the 24 hours by 54%, which is an excellent opportunity for collectors to hoard prized NFT collections.<\/p>\n
The prices of high-end and popular nonfungible token collections like Bored Ape Yacht Club have also plunged; its lowest NFT floor price dropped by as much as 16%, or $107,000. The Bored Ape floor price plummeted by 11%, or roughly 74.5 ETH.<\/p>\n
Nevertheless, the project has depreciated since May. On April 29, you can buy the cheapest Bored Ape NFT at 152 ETH or a whopping $429,000. You\u2019ll see the enormous difference in the numbers.<\/p>\n
Crypto Winter: Total Market Cap Drops By $1 Trillion<\/p>\n
The total market cap of all cryptocurrencies has dropped to as much as $969 billion on Monday. And NFT collections are following suit.<\/p>\n
More popular blue-chip nonfungible token collections are crashing like Doodles dropping by 21% or a current floor price of 8.1 ETH or equivalent to $11,650, Mutant Ape Yacht Club decreased by 22% or 14 ETH which is around $20,100, Meebits that toggled down by 27% or a floor price of 2.8 ETH which is about $4.050, and Moonbirds that spiraled down by 16% which is about 16.2 ETH or $23,250.<\/p>\n
BTC total market cap at $429 billion on the daily chart | Source: TradingView.com<\/p>\n
Suggested Reading |\u00a0Dogecoin Shed 91% Of Its Value Since 2021 High \u2013 A Musk Tweet To Pump DOGE?<\/p>\n
NFT Floor Price Drowns; Trading Volume Escalates<\/p>\n
While the NFT floor price is in the hock, trading volume is increasing. Many collectors are taking advantage of falling ETH prices to grab blue-chip NFT collections at lower price tags.<\/p>\n
Total nonfungible token sales are now at $39 million, which may seem lower than the sales in early May, but it\u2019s a significant improvement compared to the previous days. NFT market has risen remarkably by 54% in terms of trading volume over the past 24 hours.<\/p>\n
Trading volume in 2021 was at $25 billion, making this year\u2019s stats a massive improvement. And the numbers can still increase in the following days. OpenSea NFT sales spiked to as much as $476 million. The nonfungible token market appears to be more robust now than ever despite the crypto struggles and uncertainty.<\/p>\n
Suggested Reading |\u00a0Ether Drops Below $1,400, Pummeled By US Inflation And Difficulty Bomb Setback<\/p>\n
Featured image from Blockworks, chart from TradingView.com<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-1163","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/1163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=1163"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/1163\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=1163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=1163"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=1163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}