THE DAILY ENCRYPT

October 3, 2022

Digital Assets Feel the Burn – NFT Sales Decline Over 50% This Month Than in May

Digital currencies have suffered in the past month. However, non-fungible token sales (NFT), however, fell by 74.44% over the past 30 days. The data shows...
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Digital currencies have suffered in the past month. However, non-fungible token sales (NFT), however, fell by 74.44% over the past 30 days. The data shows that NFT sales fell 17.33% in the past seven days compared to the previous week. NFT floor values of popular collections have seen a rebound in terms of ethereum price, but blue-chip NFTs are selling at a much lower price than last month due to the low ether exchange rate.

NFT sales and interest have been slowing, which coincides with the crypto bear markets. Google Trends (GT), worldwide data, shows that “NFT” scored 21 out of 100 this week. The week of January 16-22 2022 was the last time that “NFT” had a GT score above 100. Cryptoslam.io metrics have shown that NFT sales have been extremely difficult in the past month. The previous month saw sales of $4.18 billion, and $1.07 Billion 30 days later.

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NFT sales in the past week across 18 blockchains totalled $184,417.851 but this is 17.33% less than the previous week’s $223,085,710. The Ethereum blockchain network accounted for $151 million in NFTs this week, but ETH-based NFTs sales dropped by more than 18%. Monthly ETH-based NFTs sales are down 76.38%.

Solana was second in sales with $22.31 Million sold this week, an increase of 3.56% over the previous week. Binance Smart Chain (BSC), which had $3.16 million in sales, was third. However, NFT sales from BSC fell 32.45% this week.

Bored Ape Yacht Club is the NFT collection currently with the highest floor price. The floor value at 90 Ethereum is currently. The BAYC floor price was 95.5 ETH 30 days ago. This is roughly the same amount of ether as the current price. But, 95.5 Ethereum was worth approximately $97K. 90 ETH is currently worth about $204K.

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In the last 24 hours, the floor value for Cryptopunks NFT collections jumped 40% to 66.65 . The Cryptopunks floor price 30 days ago was 51.9 Ethereum worth $111K, and today’s 66.65 floor it worth $71K.

This past month, BAYC 7,537 was the most expensive NFT sales. It sold for 1,024 ETH five day ago. Otherdeed 90 209 was next at 235 Ethereum, or $465K. Only three collections accounted for the top 40 most expensive NFTs this month, which included Cryptopunks and Otherdeed.

BAYC 7,537 occupied the top spot this week and throughout the month. Cryptopunk 2,964 was the second-most expensive NFT sale in the last seven days, at 444 Ethereum or $440K.

Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".
Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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