Enquires@newsofbitcoin.com
The non-fungible token (NFT) sector is witnessing a strong bearish momentum as OpenSea falls to the fourth spot among leading marketplaces.
According to data provided by CryptoSlam, global NFT sales plunged by 26% in the past 24 hours, and the trading volume is currently standing at $58.2 million. One of the main reasons behind the fall could be the investors’ focus shift to cryptocurrencies.
The Ethereum network is still leading the chart with $23.5 million in NFT sales in 24 hours, followed by Bitcoin’s $20 million trading volume, per CryptoSlam.
The Bitcoin-based digital collection NodeMonkes — released in December 2023 — recorded the most amount of sales in the past 24 hours — over $5 million — overtaking Ordinals, Bored Ape Yacht Club (BAYC) and Pandora.
Per CryptoSlam data, the number of NFT buyers and sellers declined by 4% and 9.4% in the past 24 hours, respectively.
According to data from DappRadar, Blur is currently the top NFT marketplace with a total sales volume of $25.3 million over the past day. However, Blur’s number of sales declined by 3.3%, with around 4,570 unique trades, in the past 24 hours.
Moreover, the second-largest NFT marketplace over the past 24 hours, Magic Eden, also witnessed a 38% plunge in its trading volume — currently hovering at $8.4 million with 10,510 sales.
The OKX NFT Marketplace, however, recorded a slight increase in its daily NFT sales volume — currently sitting at $5 million.
OpenSea, once the largest NFT marketplace, is now sitting in the fourth spot with a $4.99 million 24-hour trading volume. The average price of a digital collectible on OpenSea plunged by 22.22% in the past 24 hours.
The bearish sentiment in the NFT ecosystem comes while the cryptocurrency sector recorded impressive gains over the past month and Bitcoin (BTC) even reached a new all-time high.
Read More: NFT sales decline, OpenSea falls to the 4th spot
Disclaimer:The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. NewsOfBitcoin.com does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
