Blue-chip non-fungible token collections (NFT) have a steep weekly decline as the ether pulls back from all times high.
The data from the decentralized financial combined -with Defillama shown Top projects have seen their prices on the floor sinking through a double number in the last seven days. Blue-chip NFT collections such as Pudgy Penguins, Bored Ape Yacht Club (BayC) and Doodles are among the hardest hits.
The Pudgy Penguins, the leading NFT collection by 24 hours and 7-day volume, saw a 17.3% collapse in a 10.32 ether (Eth) Floor price. Bayc poured 14.7% to 9.59 ETH, while doodles recorded one of the pointed corrections, decreasing 18.9% to 0.73 ETH. Other major collections such as Moonbirds and Lil Pudgys drop by 10.5% and 14.6%, respectively.
The NFT Floor price collapse followed a sharp ethics retraction after hitting new all-time highs. On Monday, the coingecko data shown ETH has reached a new all-time high of $ 4,946. ETH dropped 12% on Tuesday to $ 4,342 before recovering slightly. At the time of writing, the crypto asset was exchanged for $ 4,433.
Cryptopunks remain elastic despite the market crashing
While many collections have experienced heavy losses, not all NFT projects have withdrawn. Cryptopunks, which remained the leading NFT collection through the market cap, showed a relative -child elastic, which drops only 1.35% on Sunday.
Despite the leading collections showing decline in floor prices, trading volumes have remained high. Throughout the week, Pudgy Penguins led the market with about 2,112 ETH (about $ 9.36 million) in trading volume. The collection was followed by Moonbirds, with 1,979 ETH ($ 8.77 million).
Cryptopunks followed close to 1,879 ETH (about $ 8.33 million) in volume, while BayC had 809 ETH ($ 3.59 million).
Related: 3D-print housing company adopted bitcoin, NFTs in Blockchain Pivot
NFT Market Capitalization has dropped to $ 7.7 Billion
While the blue-chip NFTs suffered a double digit decline, the broader NFT also dropped nearly 5% to $ 7.7 billion, According to In the data aggregator NFT price price.
On August 13, the NFT price shows that NFT’s general capitalization of the NFT market that -peak at $ 9.3 billionup to 40% out of $ 6.6 billion of July. The flowing is that -fuel by an increase in NFT activity following an eth surge.
On August 18, the NFT Market Cap dropped to $ 8.1 billion, The wiping of $ 1.2 billion From digital collected values.
https://www.youtube.com/watch?v=20zFedQDKL8
Magazine: Ethereum’s roadmap up to 10,000 tps using ZK Tech: Guide to Dummies’
