The downturn on the cryptoma market leads to a steep decline in the blue chip ethereum nfts

The downturn on the cryptoma market leads to a steep decline in the blue chip ethereum nfts

The current downward trend in the cryptocurrency drops the prices on a broad front - and with the falling value of crypto, the NFTs have also declined in dollars in the past few weeks.

Ethereum (ETH), the market leader of the NFT market, is $ 2,000 a week ago at the time of publication. Terras StableCoin Terrausd (VAT) and its native token Luna have collapsed in the past few days and have lost more than 99 %.

While VAT loosened from its one-to-one tedema with the US dollar and is traded at $ 0.013, Luna moved on Friday afternoon at $ 0.0000914

nfts that were built on Terra meanwhile marked a record level of commercial activity on May 11th.

The lower prices of Ether, on the other hand, have led to a continued decline in ETH-NFT floor prices, together with lower gas fees (drive the transactions on the Ethereum blockchain).

Blue-chip projects such as Bored Ape Yacht Club (BayC) and Cryptopunks were no exception. The trade of collector's pieces of the Bored Ape Yacht Club on OpenSea fell to the lowest month last month, a decrease of 63 % on May 12 over a period of seven days.

While the range of daily sales has fluctuated between eight and 67 NFTs every day since the beginning of May, the minimum price of the collection has suffered a more stubborn slump.

he fell to 89 ETH on May 12th ($ 169,792) and rose to 99 ETH again on Friday when the markets showed signs of stabilization. The minimum price of BayC reached its maximum at 152 ETH and almost brought the Ethereum network to the eve of the Otha Labs's Otha Labs on the eve of the Otha Labs on the eve.

OTHERDED NFTS-required to buy land in the Otherside-Metaverse-remain in the top 10 collections with the highest trading volume since their debut on Openea. In this regard, it ranks alongside the other collections of his parent company such as BayC and Mutant Ape Yacht Club.

The transactions of Otherdeed for Otherside have decreased sharply since the start, from a volume of $ 375 million to $ 6.5 million. according to zu nftgo. Nevertheless, the collection recorded some of the most expensive NFTs this week, according to to nonfungible.com.

OTHERDEED for Otherside #59906 was sold for 625 ETH, which corresponds to $ 1.6 million.

The other NFT collections, which continued to lead the charts last week, belong to Art Blocks, Doodles, Moonbirds and the Azuki and Beaverz collections, even after their founder revealed that he was part of three previously failed NFT projects.

The market conditions have also caused some NFT investors to try to liquidate their stocks despite significant losses.

In other NFT messages, Meta began testing an NFT allocation function for a selected group of Instagram manufacturers and collectors at the beginning of this week. As soon as the function becomes publicly available, it could possibly influence the larger NFT market.

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The downturn after the cryptom market leads to a steep decline in the blue chip ethereum nfts is not a financial advice.