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NFT Buyers Continue to Pile in Despite Overall Sales Decline – BeInCrypto

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Delphi Digital report shows a decline in overall sales volumes, but growth in unique NFT buyers.
Ethereum and Ronin dominate NFTs, while OpenSea remains the most used marketplace.
Blockchain games are playing a big role in growing the NFT market, with Wax Network of particular note.
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The non-fungible token market appears to be showing good signs of consolidation and growth as the number of unique NFT buyers has increased. While overall sales volumes have declined, the arrival of new players in the space and blockchain-based games are causing the market to flourish.

The NFT market appears strong as ever as the number of unique buyers grows, according to data from Delphi Digital. The report notes that, despite a reduction in the overall sales volume, the market appears not to be facing a negative turnaround.
Delphi Digital reports that daily sales volumes of NFTs have been decreasing since the start of September 2021, but coinciding with this, there has been an uptick in unique buyers. One of the explanations it offers for this is the lower average ticket prices as fewer crypto-native buyers enter the market.

The report also analyzes the sales of NFTs of different valuations on different platforms. The data shows that SuperRare and OpenSea are the go-to markets for high-end NFTs, with SuperRare crossing $100,000 in daily average sale price of NFTs on six occasions. More commonly, though, the two platforms have a bulk daily average sale price of $30,000–$60,000.
One aspect worth noting is that OpenSea is by far the most popular NFT marketplace, perhaps partly helped by the many retail NFT sellers on the platform. OpenSea’s market share represents 97.8% of the total trading volume among all NFT marketplaces.
OpenSea has been highly successful, with DappRadar showing impressive sales results. The NFT marketplace has also dominated ethereum burn rankings, which was recorded shortly after it saw $1.5 billion in monthly trading volume in Aug. 2021.
As for the networks dominating NFT volumes, Ethereum and Ronin, Axie Infinity’s sidechain, make up the bulk of the NFT market. Ethereum crossed $100 million in daily NFT volume in late August and early September and now stands at a few tens of millions of dollars. Ronin falls just short of Ethereum’s volumes, having been boosted by Axie’s releases in Q2 and Q3 of 2021.
NFTs on Wax Network also appear to be experiencing a surge, as sales volumes have spiked since the start of October. Delphi Digital puts this down to increasingly popular blockchain games using Wax NFTs.
While the NFT market is still relatively new, it does not appear as if the market will turn away from Ethereum any time soon. However, given the comparative newness of NFTs, it is likely that many more players will enter the market, which can only set the stage for more growth.
Rahul’s cryptocurrency journey first began in 2014. With a postgraduate degree in finance, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has guided a number of startups to navigate the complex digital marketing and media outreach landscapes. His work has even influenced distinguished cryptocurrency exchanges and DeFi platforms worth millions of dollars.
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FASB Excludes NFTs, Some Stablecoins From Crypto Accounting Project – The Wall Street Journal

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Michael Saylor can't stop: MicroStrategy now holds 130,000 Bitcoin – Cointelegraph

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MicroStrategy bought an additional 301 BTC for $6 million at an average price of $19,851, the company’s executive chairman announced on Twitter.
MicroStrategy now owns 0.62% of all the Bitcoin (BTC) that will ever be mined. The company’s executive chairman, Michael Saylor, announced that the company bought another 301 BTC for roughly $6 million at an average price of $19,851 per BTC. 
In sum, the company is one of the planet’s largest holders of the asset, owning 130,000 BTC. Apparently, Saylor likes round numbers, buying 301 BTC to reach the 130,000 milestone. 
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
Due to plunging price action, the company’s investment is down substantially in U.S. dollar terms. MicroStrategy’s entry price is roughly $30,639 per BTC, and the Securities and Exchange Commission filing states that the firm has bought 130,000 BTC at an aggregate purchase price of approximately $3.98 billion.
If MicroStrategy started stacking sats (buying Bitcoin) at today’s prices, it would have spent $2.48 billion on 130,000 BTC. Saylor is currently at a paper loss of over a billion dollars.
According to the SEC filing, the company made the purchase with “excess cash.” Saylor recently stepped down as CEO of the company to focus on buying more Bitcoin, while Washington, DC has taken aim at the billionaire in a tax evasion lawsuit.
Bitcoin enthusiasts were quick to commend Saylor’s buy. Referred to as the “Chad” or “Gigachad,” Saylor’s conviction and commitment to buying Bitcoin despite the investment being underwater has garnered both a devout following and numerous critics.
Related: Bitcoin better than physical property for regular folks, says Michael Saylor
Other large wallet addresses include that of crypto exchange Bitfinex, which holds 170,000 BTC, and a Binance reserve wallet that holds 125,000 BTC. Binance is the world’s largest crypto exchange and has several wallets holding six figures of Bitcoin. Regarding individuals, Saylor has stated that he holds Bitcoin, and FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao are also “hodlers” — a meme that became popular jargon for holding crypto.

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NFT Collections Will Be Regulated Like Cryptocurrencies Under EU’s MiCA Law, Official Says – CoinDesk

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