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Sunday, September 25, 2022

Prices Of NFTs Like BAYC, MAYC, And Moonbirds Drop By 50%

Blue-chip NFTs like CryptoPunks, Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), and Moonbirds have seen their base prices and market value drop by over 50% in the previous 30 days.

Blue-chip NFTs are the most popular Non-fungible tokens in terms of market capitalization, and they’re also the least volatile. OpenSea chart-topping collections including Azuki, Clone X, and Doodles are among the Blue-chip NFTs. Because of their track record of development and value, these NFTs are regarded as solid long-term investments. Non-fungible token sales are down 17.32% from the previous week.

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The sales of Goblin-town increased by 1,744,444 percent to $21.9 million.

NFTs Are Performing Poorly

According to Google Trends (GT), interest in non-fungible tokens has waned as the search term “NFT” has declined significantly. The total GT information for the pursuit term “NFT” attained the peak score of 100 throughout the seven days of January 16-22, however the inquiry query term this week is 25.

While NFTs are still selling, week-over-week sales are down 17.32% from the previous week, and NFT deals projected last week were down 64% from the previous week. By looking at market metrics, any reasonable individual would accept that the Terra LUNA and UST disasters had an impact on the NFT space as well. The floor values of a large number of blue-chip NFT assortments dropped dramatically last week, and the quality is now significantly lower. Furthermore, only 34 days ago, a handful of well-known NFT collections hit all-time highs in terms of floor esteems, and current data shows they now sell for substantially less.

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