The NFT market has been experiencing a significant decline since the beginning of March, particularly affecting the values of Blue-Chip NFTs such as CryptoPunks and Bored Ape Yacht Club (BAYC). According to NFTGo, the Blue-Chip NFT Index has fallen to a 30-day low, indicating a declining performance of these high-quality collections. Despite the overall downturn, however, there are also positive developments, as the lower floor prices have led to an increase in sales numbers.
Slump of Top Collections
CryptoPunks and BAYC, the two leading projects by market capitalization, have seen a significant drop in their floor prices since March. For CryptoPunks, the average floor price fell to about 49.75 ETH (approx. $172,000), while BAYC dropped to a value of around $45,000. This decrease, however, has led to an unexpected increase in sales numbers, with CryptoPunks recording an increase of 166% and BAYC an increase of 71% compared to the first two months of the year.
The Silver Lining on the Horizon
Despite the overall decline in market values, there are positive aspects. The drop in floor prices has attracted new buyers, leading to an increase in sales volumes. This suggests that interest in these collections remains high despite the current market weakness. It also shows that the NFT market is dynamic and can quickly adjust to new market conditions.
Our Assessment
The current decline in the NFT market could be seen as a necessary correction that can contribute to the long-term stabilization of the market. Although the values of Blue-Chip NFTs have dropped, the increase in sales numbers shows that interest and demand for high-quality NFTs remains. For investors and collectors, this could be an opportunity to enter the market at lower prices. It remains important to keep an eye on developments and make informed decisions.
Maximum bet per round: 0.000066 BTC • 0.01 BCH • 0.0011 ETH • 0.02 LTC • 40 DOGE • 2 USDT • 2.8 XRP • 25 TRX • 6.6 ADA • 0.008 BNB • 2 BUSD • 2 USDC • 3 CAD
Free spins are credited on “Max Miner” by Gamebeat.
How did we rate this casino
Bets.io is our number 1 among crypto casinos because they have kept everything great about Dama Casinos, such as their excellent game selection and well-known reliability, while eliminating the frustrating KYC processes and traditional payment methods that can hinder the full crypto casino experience.
Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.
Switch your wallet to mBTC (μBTC), USDT, ETH, DOGE, TRX, BUSD, LTC, XRP or BNB to use the offer.
The free spins are given on Sweet Bonanza.
How did we rate this casino
We absolutely recommend Empire.io since it has one of the best crypto teams we know behind it. On top of that, it offers an extensive selection of slots and live games. The bonus is also exceptional with good conditions.
I had my first experience with slot machines in 2011 during my semester abroad in Las Vegas. Back in Germany, I wanted to play the same slots, but that was only possible online. Since then, I've been playing slots in online casinos and love crazy ideas.
We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.
Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.
We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.
Why trust us?
We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.
🍪
We use cookies. By using this site, you accept them.
CoinKings.io - 100% unlimitedUncapped bonus for new customersShow Bonus