NFTs/WEB3 Market Overview: Shifting Trends and Sentiments

Market Sentiment: 21 Cool
Total MarketCap: 3.15M (+1.75%)
24H Vol: 8.22K (+24.22%)
OSVol: 1923 ETH (▲ 6.18%)
BlurVol: 8546 ETH (▲ 88.32%)

🦧 Bored Ape Yacht Club: 26.16 ETH (▼ 8.05%)
🧬 Clone X: 1.27 ETH (▼ 8.13%)
🧟 Mutant Ape Yacht Club: 5.27 ETH (▼ 8.16%)
⛩️ Azuki: 4.30 ETH (▼ 10.7%)
🦉 Moonbirds: 1.29 ETH (▼ 12.38%)
🏴‍☠️ Captainz: 3.99 ETH (▼ 13.07%)

Over the past few days, NFT market has been marked by a mixed landscape of developments & trends. The narrative surrounding DeGods project has been a focal point, marked by a continuous 4% decline in its FP to 4.4ETH. The project's challenge is exacerbated by approximately 350 underwater loans, casting concerns on its trajectory. This pattern resonates across the NFT landscape, as even notable projects like BAYC witness FP drops, with BAYC experiencing a decline to 28.6ETH.

Amidst these dynamics, the NFT market registers a trading volume of $14M & $19M in last 2 days, suggesting intermittent spurts of activity. The attention remains riveted on DeGods, as Machi's acquisition of 400 DeGods & involvement of existing DeGods whales in bidding activities generate notable interest. Despite an overall lower price action across market, the lack of substantial movement is expected due to the inherent volatility of crypto space. The unexpectedly high trading volumes have caught attention, & it's speculated that the market might experience a slowdown in the near future.

In NFT space, crypto flash crash's impact is evident as $BLUR experienced devaluation, prompting committed airdrop farmers to retract bids. This led to reduced bid pressure, met with increased buying from NFT holders amidst crypto volatility, resulting in lower NFT prices. The flash crash had swift effects, influencing sentiments, bid dynamics, and asset liquidations in the NFT sector.

<https://nftgo.io/analytics/market-overview>
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