Ether Price Thrives With 60% YTD, While NFTs Face a 45% YTD Downturn
- Ether is up by 60% year-to-date, but NFTs are falling behind, with a valuation decline of 44.82% YTD.
- Bored Ape Yacht Club’s sales volume declined by 99%.
- Analysts suggest various reasons for the crash of NFTs, including the dearth of NFT production.
According to CoinGecko, the price of Ether is up by 60% year-to-date (YTD) as of this writing, benefiting from a market-wide price rally. However, ForkastLabs’ 500 NFT index, which measures the valuation of the top 500 NFTs, reveals that the overall valuation of non-fungible tokens (NFTs) has dropped by approximately 44.82% YTD.
Concurrently, data aggregator CryptoSlam shows a 31% YTD plunge in the NFT sales volume, from $25.90 million to $17.80 million.
Strikingly, the Ethereum-based NFT collection Bored Ape Yacht Club had an average of $53 million in sales volume in 2021. However, this sales performance has dropped by 99% in the past few months, plunging to $523,000 at present.
The floor price of notable collections like “The Merge” has even dipped from roughly 25 ETH to 1.1 ETH at present. Analysts suggest various reasons for the c…
The post Ether Price Thrives With 60% YTD, While NFTs Face a 45% YTD Downturn appeared first on Coin Edition.
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Ether Price Thrives With 60% YTD, While NFTs Face a 45% YTD Downturn
- Ether is up by 60% year-to-date, but NFTs are falling behind, with a valuation decline of 44.82% YTD.
- Bored Ape Yacht Club’s sales volume declined by 99%.
- Analysts suggest various reasons for the crash of NFTs, including the dearth of NFT production.
According to CoinGecko, the price of Ether is up by 60% year-to-date (YTD) as of this writing, benefiting from a market-wide price rally. However, ForkastLabs’ 500 NFT index, which measures the valuation of the top 500 NFTs, reveals that the overall valuation of non-fungible tokens (NFTs) has dropped by approximately 44.82% YTD.
Concurrently, data aggregator CryptoSlam shows a 31% YTD plunge in the NFT sales volume, from $25.90 million to $17.80 million.
Strikingly, the Ethereum-based NFT collection Bored Ape Yacht Club had an average of $53 million in sales volume in 2021. However, this sales performance has dropped by 99% in the past few months, plunging to $523,000 at present.
The floor price of notable collections like “The Merge” has even dipped from roughly 25 ETH to 1.1 ETH at present. Analysts suggest various reasons for the c…
The post Ether Price Thrives With 60% YTD, While NFTs Face a 45% YTD Downturn appeared first on Coin Edition.
Read More