The market capitalization of Ethereum NFT has dropped by more than 59 % last year

Am 9. Februar veröffentlichte DappRadar einen Bericht, aus dem hervorgeht, dass der Marktkapitalisierungswert von Ethereum NFT um 59,60 % von 9,3 Milliarden US-Dollar im Jahr 2022 auf etwa 3,7 Milliarden US-Dollar Anfang 2023 gefallen ist. Die Studie von DappRadar basiert auf der Marktkapitalisierungsanalyse von 81 der größten NFT-Sammlungen, die im Ethereum-Netzwerk laufen. 2/ Die Marktkapitalisierung für 81 Ethereum-Sammlungen, die von unserem maschinellen Lernalgorithmus analysiert wurden, verzeichnete einen Rückgang des USD-Wertes um 59,60 %, von 9,3 Mrd. USD Anfang 2022 auf 3,7 Mrd. USD zum Jahresende. 📉 — DappRadar (@DappRadar) 9. Februar 2023 Laut DappRadar war der Zusammenbruch von Terra Luna …
On February 9, Dappradar published a report that shows that the market capitalization value of Ethereum and $ 9.3 billion fell to around $ 3.7 billion in early 2023 in 2022. The Dappradar study is based on the market capitalization analysis of 81 of the largest NFT collections that run in the Ethereum network. 2/ The market capitalization for 81 Ethereum collections, which were analyzed by our machine learning algorithm, recorded a decline in the USD value by 59.60 %, from USD 9.3 billion to $ 3.7 billion at the end of the year. 📉 - Dappradar (@dappradar) February 9, 2023 According to the Dappradar, the collapse of Terra Luna was ... (Symbolbild/KNAT)

The market capitalization of Ethereum NFT has dropped by more than 59 % last year

On February 9, Dappradar published a report that shows that the market capitalization value of Ethereum and $ 9.3 billion fell to around $ 3.7 billion in early 2023 in 2022.

The study by Dappradar is based on the market capitalization analysis of 81 of the largest NFT collections that run in the Ethereum network.

2/ the market capitalization for 81 Ethereum collections, which were analyzed by our machine learning algorithm, recorded a decrease in the USD value by 59.60 %, from USD $ USD $ 3.7 billion at the end of the year. 📉

- dappradar (@dappradar) 9. February 2023

According to Dappradar, Terra Luna's collapse in May 2022 was the main cause of the market capitalization loss of 88 % of the NFT projects that run on Ethereum until June 2022

Therefore, the decline in market capitalization of NFT projects was not due to the lack of interest of investors, but to the manipulation of bad actors in the ecosystem. This is probably the main cause of the broader collapse of the crypto industry, since during the collapse of FTX the market capitalization of the entire NFT ecosystem collapsed according to the global cryptoma market.

Performance of the NFT market compared to other crypto markets Dappradar

These were the best earning NFT collections on Ethereum since 2022

The report found that some projects that were launched in 2021 and early 2022 had a “significant growth of market capitalization” of up to 260 %. These projects included the Azuki, Pudgy Penguins and Degen Toonz, whose market capitalization by 113.89 %, 260 % ​​or 204 %.

The newer NFT projects that have started after the collapse of Terra Luna are: The Potatoz with growth of market capitalization of 134.68 %, Renga with 211.63 %, Digidaigaku with 209.88 %and God Hates with 1,653.28 %.

It is worth noting that all of these projects have a dramatic growth, although ETH, the native currency of the Ethereum network, recorded a price drop of 60 % last year.

The Bored Ape Yacht Club dominates the market

According to Dappradar, Yuga Labs, the parent company of the Bored Ape Yacht Club project, dominated the NFT market of the Ethereum network and "established itself as a leading actor in the NFT industry", despite the exponential decline in other projects.

Although the collection of Yuga Labs is 67 % of the total value of the NFT market on Ethereum, the market capitalization of Bored Ape Yacht Club recorded a devaluation of 64.92 % from USD $ 934 million by the end of 2022.

This did not prevent Yuga Labs from buying two of the largest NFT collections on the market, cryptopunks and Mebits, for a previously unknown sum. Both collections are already experiencing a significant recovery after they suffered up to 60 % in 2022.

But now that the cryptom market shows signs of relaxation, the NFT ecosystem probably has a chance to breathe. And we could see green pastures in front of us because the commercial activities around Blue chip collections have only recently started to rise, and now there are even NFTs that take over the Bitcoin network.

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