• About
  • Coincu
  • Hot topics
  • Random
  • Exchange
  • Dotscan
Wednesday, July 6, 2022
CoinCu News
No Result
View All Result
  • Login
  • Home
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • Defi
    • GameFi
    • NFTs
    • Metaverse
    • Web 3
  • Crypto Recap
  • Video
  • IDO Events
    • Airdrop
  • Scam Alert
  • Live Prices
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
  • Home
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • Defi
    • GameFi
    • NFTs
    • Metaverse
    • Web 3
  • Crypto Recap
  • Video
  • IDO Events
    • Airdrop
  • Scam Alert
  • Live Prices
  • PR
    • Press Releases
    • Sponsored Articles
    • Advertise
No Result
View All Result
CoinCu News
No Result
View All Result
Home Knowledge

Are Investors Taking Advantage Of The NFT Drop? BAYC Has The Answer.

June 18, 2022
in Knowledge
376
90
SHARES
3k
VIEWS
Share on Facebook

Polygon Partners With Nothing To Build Smartphone

Bitcoin Spot Trading Fees Will Be Eliminated By Binance

The current cryptocurrency market is chaotic. As Bitcoin approaches the $20k level, daily liquidations have risen to more over $200 million. The second-largest coin, Ethereum, suffered the same fate. However, it appears that investors are buying the drop. No, it’s not Bitcoin or altcoins; instead, investors took advantage of the opportunity to purchase NFTs.

Are Investors Taking Advantage Of The NFT Drop? BAYC Has The Answer.
Source: NFTGO

Many NFT projects have seen large price drops as a result of the market crisis. Popular collections, such as the renowned Bored Ape Yacht Club (BAYC), were not immune, and their floor values have declined significantly in US dollars. At the time of publication, BAYC had fallen by -49%.

Other projects suffered as well; at the time of publication, CloneX was at -57%, Meebits was at -54%, and Azuki was at -49%. However, according to NFTGO, BAYC accounted for more than 85% of high-priced transactions in the previous week. As a result, investors attempted to purchase BAYC during a down market.

Well, the sharp drop in floor price also aided investors in purchasing it at a lower cost. According to NFT price floor data, the floor price of Bored Apes has fallen below $100,000 for the first time in in a year.

The BAYC was priced at $85,500 at the time of writing, a 65% decrease from the all-time high.

In January 2022, an Ape was traded in this price range for the last time. Furthermore, the amount of trades has grown in the previous 24 hours as crypto prices have crashed.

Are Investors Taking Advantage Of The NFT Drop? BAYC Has The Answer.

According to CryptoSlam, the NFT market had a 40% spike in trade volume over the preceding 24-hour period. Other projects, such as MAYC and Moonbirds, went down the line.

However, the increase in volume indicated that investors were seizing the chance. For example, Twitter user CryptoDonAlt chose to ignore his BAYC losses and instead focus on the good.

Is there a good chance I just wasted 100 ETH on a JPG?
Yup

Did it make me smile?
Yup

Did it make some other people have fun on a shit day?
Yup

Absolutely worth, would do again.
The duck will be back in due time, no worries.
Until then we ape.

— DonAlt (@CryptoDonAlt) June 15, 2022

Furthermore, according to DappRadar data, the NFT market will reach $25 billion in transaction volume in 2021. It is estimated that it will exceed that level this year. According to the Nansen 2022 quarterly report, the NFT market has outperformed the broader cryptocurrency market year to far, as indicated by the NFT-500 Index’s 49.9% price growth so far in 2022.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Patrick

CoinCu News

Why Is It That Bored Ape NFTs Are So Popular?

Auto-Staking | New Trend In 2022?

What is Bored Ape Yacht Club (BAYC)? Temporary Trending or Future of Digital ARTs?

Tags: # Cryptocurrencies#Bitcoin#MarketsAzukiBAYCCloneXETHMeebitsNFT
Previous Post

Five Countries With Strict Crypto Advertising Legislation

Next Post

Revain (REV) Skyrockets 197% In Just One Week, Outperforming Bitcoin, Ethereum, And The Crypto Markets.

Other Posts

Crypto 101: What Are The Popular DeFi Marketplaces?
Knowledge

Crypto 101: What Are The Popular DeFi Marketplaces?

July 6, 2022
Here Are 6 Key Metrics to Measure Blockchain Network Performance That You Need To Know!
Crypto 101

Here Are 6 Key Metrics to Measure Blockchain Network Performance That You Need To Know!

July 6, 2022
Does DeFiChain Need To Build A dApp?
Knowledge

Does DeFiChain Need To Build A dApp?

July 5, 2022
Elrond: Decoding The Reason Behind EGLD's Breakout Effort
Knowledge

Elrond: Decoding The Reason Behind EGLD’s Breakout Effort

July 5, 2022
Why Ethereum Investors Are Still Concerned Despite ETH's Recent 9% Gain
Knowledge

Why Ethereum Investors Are Still Concerned Despite ETH’s Recent 9% Gain

July 5, 2022
How Ethereum's "Consensus-layer Call 90" Decryption Affect ETH Price?
Knowledge

How Ethereum’s “Consensus-layer Call 90” Decryption Affect ETH Price?

July 4, 2022
Next Post
Revain (REV) Skyrockets 197% In Just One Week, Outperforming Bitcoin, Ethereum, And The Crypto Markets.Revain (REV) Skyrockets 197% In Just One Week, Outperforming Bitcoin, Ethereum, And The Crypto Markets.

Revain (REV) Skyrockets 197% In Just One Week, Outperforming Bitcoin, Ethereum, And The Crypto Markets.

  • Voyager Cheated Customers With $250,000 Insurance From FDIC

    Voyager Cheated Customers With $250,000 Insurance From FDIC

    108 shares
    Share 43 Tweet 27
  • Discover The Huge Fortune Of Su Zhu, The Co-founder Of Three Arrows Capital

    106 shares
    Share 42 Tweet 27
  • Voyager Digital Suspends Trading, Sediments, And Withdrawals

    106 shares
    Share 42 Tweet 27
  • Axie Infinity Hosts World Championship With $1 Million AXS Prize

    104 shares
    Share 42 Tweet 26
  • Near Weekly Recap | Jun 27th – Jul 3rd, 2022

    109 shares
    Share 44 Tweet 27
Polygon Partners With Nothing To Build Smartphone

Polygon Partners With Nothing To Build Smartphone

July 6, 2022
Crypto 101: What Are The Popular DeFi Marketplaces?

Crypto 101: What Are The Popular DeFi Marketplaces?

July 6, 2022
Bitcoin Spot Trading Fees Will Be Eliminated By Binance

Bitcoin Spot Trading Fees Will Be Eliminated By Binance

July 6, 2022
Tron's USDD Approaches $1 After Two Weeks Riding Around $0.92

Tron’s USDD Approaches $1 After Two Weeks Riding Around $0.92

July 6, 2022
Cardano’s Technical Architect At IOG Is Working On “Tsunami”

Cardano’s Technical Architect At IOG Is Working On “Tsunami”

July 6, 2022
Binance CEO Changpeng Zhao Says Continues to Hold These Crypto

Binance CEO Changpeng Zhao Says Continues to Hold These Crypto

July 6, 2022
Bitcoin Critic Peter Schiff's Bank Closed Due To Allegations Of Tax Evasion And Money Laundering.

Bitcoin Critic Peter Schiff’s Bank Closed Due To Allegations Of Tax Evasion And Money Laundering.

July 6, 2022
Veteran Trader Peter Brandt Highlights An Important Bitcoin Chart Pattern.

Veteran Trader Peter Brandt Highlights An Important Bitcoin Chart Pattern.

July 6, 2022
Convex Soars By 57% After Token Unlock Provides A Bullish Catalyst.

Convex Soars By 57% After Token Unlock Provides A Bullish Catalyst.

July 6, 2022
Cardano May Reach $2.90 By September.

Cardano May Reach $2.90 By September.

July 6, 2022
  • Live Prices
  • Binance
  • NFT
  • Solana
  • Polkadot Scan
  • Metaverse
  • Polygon
  • Coinbase
  • Trending
  • Top Coin
  • Vi
  • DFH

© 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands. Email us: [email protected]

No Result
View All Result
  • Coincu
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • Metaverse News
    • NFTs News
  • Market
    • Analysis
  • Knowledge
    • Crypto 101
    • DeFi
    • GameFi
    • NFT
    • Web 3
  • Crypto Recap
  • Video
  • IDO Events
    • Airdrop
  • Scam Alert
  • Live Prices
  • PR
    • Press Releases
    • Advertise
  • Dotscan

© 2021 COINCU Financial Group Inc. Address: Road Town, Tortola, British Virgin Islands. Email us: [email protected]

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In