Ethereum NFTs Minting Data Suggests Bear Market Bottom in Place
- Nansen data suggests the possibility of a bottom in the NFT bear market.
- Ethereum NFTs minted in June 2023 reflected a 48% increase from the previous month.
- May 2023 marked the lowest Ethereum NFT mints have been since June 2021.
Information from Nansen, the blockchain data and research platform, suggests the possibility of a bottom in the NFT bear market. In a tweed report, Nansen showed that 752 Ethereum NFTs were minted in June 2023, reflecting a 48% increase from the previous month. May 2023 marked the lowest Ethereum NFT mints have been since June 2021.
Ethereum NFT mints in May were the lowest they've been since June '21. But last month there was a 48% increase!
— Nansen
– 54% are in profit
– 39% are valued less than mint price
– 7% are dead
Total Ethereum NFT mints in June: 752
Was May the bottom? pic.twitter.com/fnfgBtAPKp(@nansen_ai) July 7, 2023
Out of the 752 Ethereum NFTs minted in June, Nansen data shows that 58% are in profit while 39% of them are valued less than their mint price. The remaining 7% no longer exists.
Nansen’s June data on Ethereum NFTs reflects a bullish market in sharp contrast to what has been for the past two years. Most of t…
The post Ethereum NFTs Minting Data Suggests Bear Market Bottom in Place appeared first on Coin Edition.
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Ethereum NFTs Minting Data Suggests Bear Market Bottom in Place
- Nansen data suggests the possibility of a bottom in the NFT bear market.
- Ethereum NFTs minted in June 2023 reflected a 48% increase from the previous month.
- May 2023 marked the lowest Ethereum NFT mints have been since June 2021.
Information from Nansen, the blockchain data and research platform, suggests the possibility of a bottom in the NFT bear market. In a tweed report, Nansen showed that 752 Ethereum NFTs were minted in June 2023, reflecting a 48% increase from the previous month. May 2023 marked the lowest Ethereum NFT mints have been since June 2021.
Ethereum NFT mints in May were the lowest they've been since June '21. But last month there was a 48% increase!
— Nansen
– 54% are in profit
– 39% are valued less than mint price
– 7% are dead
Total Ethereum NFT mints in June: 752
Was May the bottom? pic.twitter.com/fnfgBtAPKp
Out of the 752 Ethereum NFTs minted in June, Nansen data shows that 58% are in profit while 39% of them are valued less than their mint price. The remaining 7% no longer exists.
Nansen’s June data on Ethereum NFTs reflects a bullish market in sharp contrast to what has been for the past two years. Most of t…
The post Ethereum NFTs Minting Data Suggests Bear Market Bottom in Place appeared first on Coin Edition.
Read More
Powell’s “Balance of Risks” Quote Erases Inflation Fears and Ignites a 10% ETH Rally