NFTs Resurgance? Crypto's
Bull Run
is Driving These Assets Higher
NFTs Resurgance? Crypto's Bull Run is Driving These Assets Higher
Despite new collections, CryptoPunk NFTs hold a 40% market share, showing its
enduring appeal among collectors.
By Vince Dioquino
Dec 2, 2024 Dec 2, 2024
3 min read
Pudgy Penguins and Bored Ape Yacht Club NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен artwork. Image: Pudgy
Penguins/Yuga Labs
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Fresh off a broader crypto market resurgence in November, the NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен market is
heating up again.
Data from CoinGecko for December shows that the sector's market
capitalization has reached $8.8 billion, up by 17.3% over a week. The same
dataset also points to a surge in volume: daily trading across all chains has
jumped nearly 48% in the past 24 hours.
This is coming off the tracks of November, which saw $562 million in sales,
according to data from CryptoSlam. Looking at the charts, this figure is the
highest sales volume that NFTs have seen since May this year, which saw almost
$600 million in sales.
Notably, the number of unique buyers for November has dwindled to just 662,000
compared to May, which had over a million.
Blue chip NFTs: by the numbers
The blue-chip NFT collection• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен has maintained its dominance in the sector across
all chains (including those outside EVMs). The NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен Heatmap from CoinGecko
shows it's now commanding a 42.99 ETH floor price, worth around $159,000.
This figure is up nearly 5% in the past 24 hours and over 14% on the week.
CryptoPunks• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен also led November's recovery with $49 million in trading
volume, a 392% surge from October across just 388 transactions.
While newer collections have emerged, CryptoPunks• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен' 40% market share and
median trade value of $114,131 demonstrate that the pioneering collection has
retained its appeal among serious collectors and investors.
Not to be outdone, Bored Ape Yacht Club is holding firm at 21.27 ETH
($79,727), posting an impressive 75.79% weekly gain that's turning heads
across trading venues. The collection moved 1,486 ETH worth of volume in the
past day alone, suggesting whales and collectors are betting big.
The surge isn't limited to the usual suspects. Pudgy Penguins , which has
emerged as a serious contender in the blue-chip space, maintains a healthy
14.869 ETH ($55,758) floor with nearly 30% weekly appreciation. Even Azuki ,
sitting at a more accessible 5.799 ETH, saw its floor jump 8.61% in a day.
Three collections—CryptoPunks• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен, BAYC, and Pudgy Penguins—now control 73% of all
market activity. Meanwhile, Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum remains king with $216 million in
November sales, though Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin's making waves with a 99.44% monthly jump
to $186 million.
Data from Dune Analytics collated by Dragonfly Capital analyst Hilldobby shows
that for marketplaces across EVM chains, Blur has taken the lead, pushing
around $271 million in trades, with OpenSea not far behind at $161 million.
When it comes to who's using what, OpenSea is still the go-to marketplace
for most folks, with about 188,000 active traders making over 2 million
trades. Interestingly, Blur manages to generate from a smaller but more active
user base of around 38,000 traders.
Far from the heydays
While these recent NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен trading volumes show signs of life, the CryptoSlam 500
NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен Index tells a sobering story about the market's overall trajectory.
Currently sitting at 1,135.04, the index has seen a dramatic 53.77% decline
from its peak, suggesting we're still far from the heady days when NFTs
dominated crypto headlines and drew mainstream attention .
The index, which tracks 500 smart contracts across 11 major blockchains,
including Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum, Solana, and Polygon, has fallen from its high of 2,494.74,
painting a picture of a market that's seeking a renewed sense of balance.
While recent platform innovations and institutional interest offer glimmers of
hope, the data suggests the NFT• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » NFT - невзаимозаменяемый токен market is still working to recapture the
explosive growth that once defined the space.
Edited by Sebastian Sinclair
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