The cryptocurrency market, which has devastated investors in recent days, has shown the lowest levels we have seen in many cryptocurrencies in a long time. While the value of Bitcoin fell below even $ 21 thousand, the total volume of the crypto money market fell below $ 1 trillion for the first time in a long time. On the other hand, this decline in the market had the opposite effect in a completely different market.
After the sharp decline in the crypto money market, led by Bitcoin, the prices of NFT collections also bottomed out. With the market value of the collectibles plummeting due to the falling value of cryptocurrencies, it has been seen that many investors are turning to NFTs. So much so that the trading volumes of popular NFT collections have more than doubled in the last 24 hours.
NFT collections prices fell, sales increased
According to CryptoSlam data, many like Bored Ape Yacht Club, Mutant Ape Yacht Club, Otherdeed, CryptoPunks, CloneX and Sorare trading volume on the very popular NFT collection has more than doubled. The biggest increase was seen in Bored Ape Yacht Club with 262.79%. Mutant Ape Yacht Club followed this collection with 173.49%.
DappRadar’s data showed that OpenSea was one of the platforms that made the most profit from the increasing transaction volume in the last 24 hours. According to the data, a total of 23.88 million dollars were sold in OpenSea in the last 24 hours, and the transaction volume increased by 173.43%. Despite this increase, the number of investors decreased by 15.39%.
- This content is not investment advice.
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