The NFT Market Cap dropped by $ 1.2B as the Ether refused; Penguins reached the apes
The market non -disturbed market (NFT) lost more than $ 1.2 billion worth in less than a week while Ether’s rally slowed down, according to sector data.
On Monday, NFT price data price shown That total appreciation of NFT collections dropped to $ 8.1 billion, a 12% decline from Wednesday’s NFT Market Cap of $ 9.3 billionwhich has moved 40% since July.
NFTs lost $ 1.2 billion in appreciation in less than a week with a 9% falling to Ether (Eth) Prices. At the time of writing, cointelegraph data showed ETH exchanged for $ 4,260, down from a high of about $ 4,700 on Wednesday.
Many nft are Minted to the Ethereum network. Through values and sales that denominated with ETH, Bullish or Bearish momentum in crypto assets are often translated with increased or decreased value in the NFT sector. As ETH dropped 4% in the last 24 hours, most of the top 10 collections also showed a decline in value.
NFT Market Cap drops more than 12% while ETH denial
As it continued to become the leading collection through market capitalization, cryptopunks saw about $ 300 million eliminated from the cost of the collection.
At the time of writing, data showed $ 2.1 billion, down 12% from 2.4 billion market cap on Wednesday.
Cryptoslam data shown That the collection sales volume reached $ 12.7 million, a 34% collapse in the last seven days. Total sales reached only 51, down 28% last week.
The bored APE Yacht Club (BayC), which was ranked second in the general capitalization of the NFT market on Wednesday, dropped to third place on Monday, as the collection declined $ 482.3 million.
It represents nearly 20% falling from Wednesday’s $ 602 million.
Related: NFT Sales Surge at $ 574 million in July, second-prolonged to 2025
Penguins reached apes in market capitalization
Meanwhile, Pudgy Penguins have climbed the second highest appreciation despite the removal of nearly $ 100 million in the overall value.
On Monday, the collection market cap was $ 491 million, down 17% from $ 591 million on Wednesday.
Last week, the public was announced that blockchain company BTCS Inc. added Three pudgy penguin nfts in his corporate digital asset treasury.
It has shown that companies are starting to identify blue-chip NFT collections as legitimate properties for treasury diversity.
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