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Discord-1Minute Alpha-harry.eth 100 days, 12 hours ago

WEB3 Market Analysis: 1 Sept

Market Sentiment: 13 Cool
Total MarketCap: 2.9M (-0.19%)
24H Vol: 4.27K (+0.89%)
OSVol: 1457 ETH (▲ 17.03%)
BlurVol: 4349 ETH (▲ 18.79%)

🦉 Moonbirds: 1.33 ETH (▲ 4.53%)
🌈 Doodles: 1.39 ETH (▲ 3.11%)
⛰️ Otherdeeds: 0.63 ETH (▲ 2.09%)
🧬 Clone X: 1.43 ETH (▼ 1.81%)
🏴‍☠️ Captainz: 4.05 ETH (▼ 2.17%)
🧟 MAYC: 5.50 ETH (▼ 3.51%)
🏳️‍🌈 Chromie Squiggles: 9.90 ETH (▼ 3.88%)

Recent observations indicate that most gains in the NFT market, particularly in PFP projects, have demonstrated resilience, with only minor fluctuations. This stability appears to have established a local, & potentially even global, bottom, despite relatively low trading volumes. While discussions often center on the challenges some have faced with NFT investments this year, it is essential to recognize the sustained vitality of the art market within the NFT ecosystem.

Refik Anadol's Winds of Yawanawa NFTs now stand at an impressive 7.49ETH FP, a significant rise from the initial 2.5k ETH mint just 20 days ago. Similarly, Sam Spratt's Monument Game Player edition maintains a strong 5.99ETH FP, exceeding its 3ETH MP, even after the game's conclusion. These instances highlight the lasting appeal & value potential within the NFT realm, emphasizing that NFTs continue to thrive for those willing to delve deeper.

The recent resurgence in NFT floor prices prompts questions about its sustainability. While prices are rebounding, the core market fundamentals present concerns, including a decline in daily active NFT buyers & diminishing liquidity. Moreover, many leading projects are highly leveraged, adding to the market's vulnerability. Given this backdrop, it's advisable for investors to consider securing gains achieved in what could be a bear market, recognizing that persistent market headwinds are likely here to stay.





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