Top NFT Volumes Spiked in November, Despite the Negative Market Sentiment

2022-12-3 16:21

The top NFTs had a spike in trading volume and sales despite the turmoil in the crypto industry due to the FTX collapse.

The collapse of the Sam Bankman-Fried empire has led to the extreme of the current bearish trend. The Total Crypto Market Cap, as per TradingView, is down by more than 16% from the October closing. The price of the leading crypto – Bitcoin, is also down by around 18%. 

Source: TradingView, CRYPTOCAP The Spike in NFT Volumes

According to data from DappRadar, the volume and sales of four out of the top five NFT collections had significant gains in November. Most notably, the NFT collection from Yuga Labs, namely, Bored Ape Yacht Club (BAYC), Crypto Punks, and Mutant Ape Yacht Club (MAYC), are going bonkers. On Nov. 26, BAYC recorded the highest sales in the last six months. The community speculates if this is the beginning of the NFT bull run.

Source: DappRadar The Developments in the Ape Ecosystem

The rise in sales and volume of the NFTs in the Ape ecosystem is also accompanied by the increase in the price of ApeCoin (APE). APE is the governance token adopted by Yuga Labs. It lets holders participate in the Ape DAO. The coin has pumped nearly 50% in the past three weeks.

The most notable development in the ecosystem is the announcement of APE staking by Horizen Labs. The open-source staking contract will also allow other protocols or exchanges to launch APE staking. ApeCoin holders can participate in the staking; however additional pools are available for the NFT owners in the APE ecosystem. 

The spike in the APE ecosystem is likely due to the community’s accumulation of NFTs and tokens to make the most from the staking rewards. Further, on the occasion of Thanksgiving, BAYC dropped a cryptic tweet stating, “The Trial begins this Christmas.” The Ape community is excited and speculates various theories on what could be cooking

Happy Thanksgiving, Apes. The Trial begins this Christmas. pic.twitter.com/PTlUtcIm8Z

— Bored Ape Yacht Club (@BoredApeYC) November 24, 2022

Got something to say about the spike in top NFT volumes or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on Tik Tok, Facebook, or Twitter.


For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

The post Top NFT Volumes Spiked in November, Despite the Negative Market Sentiment appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

despite sentiment negative market nft november volumes

despite sentiment → Результатов: 126


'Happening' crypto-market will be fine despite corrections: Former Goldman Sachs CEO

The market sentiment around digital assets suffered a major blow following the crash in the crypto-market. And yet, different analysts have shared undeterred bullish scenarios for the space. In fact, The post 'Happening' crypto-market will be fine despite corrections: Former Goldman Sachs CEO appeared first on AMBCrypto.

2022-1-26 21:30


Фото:

$100k Bitcoin Is Right Around The Corner, Bloomberg’s Senior Strategist Reckons

“This year is prime for Bitcoin to take the next step in its price-discovery stage and we see a refreshed bull market,” wrote strategist Mike McGlone in Bloomberg’s August crypto outlook. This is a sentiment that many Bitcoin proponents share and have continued to hold onto despite the market woes. Bitcoin creates $30k base; $100,000 […]

2021-8-9 19:27


Фото:

Indian Crypto Exchanges Flooded With INR Deposits and New Users After Elon Musk’s Tesla Revealed Bitcoin Purchase

Indian crypto exchanges have been experiencing a flood of INR deposits and surging trading volumes since it was revealed that Elon Musk’s Tesla purchased $1.5 billion worth of bitcoin. The positive sentiment swept the Indian crypto industry despite the uncertainty of the cryptocurrency bill that may soon be introduced in parliament. INR Deposits and Trading […]

2021-2-9 17:05