• News
    • Bitcoin
    • Altcoins
  • NFT
  • Metaverse
  • Analysis
  • Regulation
  • Learn
  • Market Cap
What's Hot

Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

2023-09-28

What Is Toncoin (TON)? Everything You Need To Know

2023-09-28

Valentino Rossi Steps into The Sandbox with ValeVerse

2023-09-27
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook TikTok Instagram YouTube
CryptoNewsMetaverse
  • News
    • Bitcoin
    • Altcoins
  • NFT

    U.S. IRS Considers Taxing NFTs Like Other Collectibles

    2023-03-21

    Meta Shuts Down NFT Project to Focus on FinTech and Content

    2023-03-14

    Solana’s Solend V2 Release, Is SOL Price $50 Next?

    2023-03-06

    Amazon NFT Marketplace To Reportedly Launch Next Month

    2023-03-06

    Blur Coin Under Fire As Allegations Of Wash Trading Emerge

    2023-03-01
  • Metaverse

    Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

    2023-09-28

    Valentino Rossi Steps into The Sandbox with ValeVerse

    2023-09-27

    Opportunities for Artists and Creators at Decentraland Music Festival 2023

    2023-09-26

    Hitachi Leverages Metaverse and VR for Next-Generation Workforce Training

    2023-09-25

    Upland and KABOOM! Unite to Address Playspace Inequity

    2023-09-22
  • Analysis

    DOJ Officially Seizes Over $456,000,000 Worth of Robinhood Shares Tied to FTX Founder Sam Bankman-Fried

    2023-01-08

    Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report

    2023-01-08

    Binance Listings Cause Crypto Assets To Spike an Average of 41%: New Research

    2023-01-08

    Bitcoin Whales Unloaded BTC As Market Reversed and Parked Their Profits in This Crypto Asset Class: Santiment

    2023-01-07

    Crypto Analyst Predicts Breakout for AI-Focused Altcoin, Updates Outlook on Ethereum and Lido DAO

    2023-01-07
  • Regulation

    Ripple files motion to block SEC appeal attempt

    2023-09-04

    JP Morgan believes SEC will be forced to approve ETFs after losing case against Grayscale

    2023-09-03

    Ripple Files Motion To Oppose SEC Appeal Over Landmark XRP Ruling

    2023-09-03

    U.S. SEC Punts on Bitcoin (BTC) Spot Exchange-Traded Fund Approvals, Delays Decisions Until October

    2023-09-02

    Navigating the significance of legal opinions in the crypto sphere

    2023-09-02
  • Learn

    What Is Toncoin (TON)? Everything You Need To Know

    2023-09-28

    What is NBA Top Shot? A Beginner’s Guide

    2023-09-22

    What Are Bridges in Crypto? Cross-Chain Bridges, Explained – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-21

    SingularityNET (AGIX) Price Prediction 2023 2024 2025

    2023-09-18

    What Are Altcoins? Best Altcoins to Buy  – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-08
  • Market Cap
CryptoNewsMetaverse
Home»Altcoins»Could the NFT market be in pole position for a Q1 2023 revival?
Altcoins

Could the NFT market be in pole position for a Q1 2023 revival?

2022-12-31No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
  • Crypto Punk NFT sold for six times the amount it was bought.
  • NFT market would need some crypto price recovery to sustain a 2023 revival.

If you were of the viewpoint that the NFT market year would end in a turnaround, then you may not be too far from the truth. Despite a rally on the horizon, investors should definitely not expect an all-round recovery. However, a recent trade from a blue-chip Ethereum [ETH] collection could set things in motion.

According to Wu Blockchain, a Crypto Punk NFT that was bought for 175 ETH – $210,000 – was six times this buying price. The NFT, Crypto Punk #2066, sold for 1155 ETH, amounting to $1.38 million.

CryptoPunk #2066 sold for 1155 ETH (approximately $1.38 million) today. This NFT is one of 88 Zombie Punks. Azuki #2311 was purchased by togekiss.eth (0x5c…cd3d) for 175 ETH (approximately $210,000).https://t.co/9uktQjmvJ0

— Wu Blockchain (@WuBlockchain) December 31, 2022

Details from the transaction showed that the same collector had numerous offers until 28 December. But he declined to let go of the asset. 

One shot is sometimes a goal

The trade contributed to the manner Crypto Punks displaced other collections to the apex of the market sales volume. In 2021, the collection was part of the top three across all chains, with hundreds of millions of dollars in sales.

The performance pushed the same momentum into the first quarter (Q1) of 2022. Unfortunately, the dip in crypto prices and a series of uneventful incidents led to a massive decline in floor prices and traders’ interest.

According to CryptoSlam, Crypto Punks registered a 154% uptick in sales in the last 24 hours. These trades amounted to $2.60 million, involving 11 sellers and buyers in 15 transactions.

Yuga Labs-owned Mutant Ape Yacht Club [MAYC] and Bored Ape Yacht Club [BAYC] came second and third, respectively. While MAYC recorded an increase like Crypto Punks, the more famous BAYC chose a volume decrease.

NFT collections transactions across all blockchains

Source: CryptoSlam

Interestingly, Ethereum NFTs performed well in December 2022. At the time of writing, the NFT sales information provider reported that sales under the Ethereum blockchain were as high as $535 million in the last 30 days.

However, the last 24 hours did not produce a similar performance as sales dipped 5.41%. That said, the trend meant that the market remained oblivious to a specific direction.

Ethereum NFT sales volume

Ethereum NFTs sales volume | Source: CryptoSlam

Solana NFTs: Where art thou headed?

For Solana [SOL] NFTs, the crypto market’s downturn, coupled with some breakdown in its chain, exempted it from a quick Q1 recuperation. At some point in 2022, Solana NFTs outperformed those of Ethereum. But at press time, the table had turned. 

The abysmal performance of SOL dropping to $9 and a fall to 17 in market capitalization rankings also contributed to the same. However, traders who prefer the Proof-of-History blockchain might need to keep their hopes up.

At press time, sales were down to $3.37 million in the last 24 hours, although there was a notable improvement in buying and selling interaction.

Solana NFT sales volume

Solana NFTs sales volume | Source: CryptoSlam



Source link

market NFT pole Position revival
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Shandong Province Aims for 10% of Global Metaverse Market by 2025

2023-09-11

SEC’s Hester Peirce Blasts Agency’s First NFT Lawsuit, Says Enforcement Action Raises Many Difficult Questions

2023-08-31

SEC Commissioners Peirce, Uyeda push back against SEC’s NFT enforcement action

2023-08-28

Binance mulls exiting Russian market

2023-08-28
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Is the NFT hype fizzling out or is there something else at play here

2022-05-09

Optimism: OP leads the crypto gang with a 90% growth in price in the past seven days

2022-07-31

Dogecoin, ETC, Monero Price Analysis: 29 March

2022-03-29

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Instagram YouTube TikTok
Top Insights

Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

2023-09-28

What Is Toncoin (TON)? Everything You Need To Know

2023-09-28

Valentino Rossi Steps into The Sandbox with ValeVerse

2023-09-27
Get Informed

Subscribe to Updates

Get the latest news and Update from Cryptonewsmetaverse.com about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 Cryptonewsmetaverse.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$26,886.00-0.61%
  • ethereumEthereum(ETH)$1,666.660.65%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.07%
  • binancecoinBNB(BNB)$215.540.27%
  • rippleXRP(XRP)$0.545.54%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • Lido Staked EtherLido Staked Ether(STETH)$1,666.330.76%
  • dogecoinDogecoin(DOGE)$0.0620431.07%
  • cardanoCardano(ADA)$0.2490130.07%