NFT trading volume soars, floor price plummets

In the past 24 hours, as the cryptocurrency market plummeted, the floor price of many top NFTs also fell, and NFT trading volume surged.

A long list of top NFT projects such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Crypto Punks, and Sorare all saw 24-hour volume increases of over 100% as investment Investors hope to snap up cheaper NFTs.

According to CryptoSlam, 8 of the 10 NFT projects with the highest 24-hour sales have seen their trading volume increase by at least 115%, with only Goblintown (35.54%) and Moonbirds (64.11%) lower than this figure.

Yuga Labs’ BAYC NFT has the highest trading volume, with volume surging 262.79% to $7.1 million in the past 24 hours.

It’s worth noting that the following three highest-ranked projects also belong to Yuga Labs, where MAYC, Otherdeed, and CryptoPunks saw 24-hour trading volume surges of 173.49%, 157.88%, and 122.69%, representing $3.4 million, $2.6 million, and $2.5 million, respectively. million dollars in trading volume.

24-hour transaction volume: CryptoSlam

Data from DappRadar also shows that the OpenSea marketplace was the biggest beneficiary of the increase in transaction volume over the past 24 hours, with the platform seeing a 173.43% increase in transaction volume to a total of $23.88 million.

However, the number of traders on the platform also decreased by 15.39% to 29,300 during the same time period, suggesting that only a handful of relatively deep-pocketed investors are taking action.

It's also worth noting that investors are still snapping up above-floor prices even though the floor prices for projects like BAYC and CryptoPunks have fallen from all-time highs of 153.70 ETH and 123 ETH to 82.5 ETH ($96,700) and 47 ETH ($54,800). asset.

Over the past 24 hours, CryptoPunks #8620 and #5690 sold for 275 ETH (current price $327,000), while BAYC NFTs #393 and #3441 sold for 118 ETH ($140,000) and 105 ETH ($120,000) 4 thousand dollars).