NFT Sunday returns with Roar as Ethereum grows

Sunday for crypto-collectible items sold as the NFT has cooled in recent months since the spring boom, but the recent surge in dollar sales and surprising levels of trading volume suggest the NFT is gaining momentum once again.

NFT’s popularity soared in early 2021, with trading volume in the first quarter alone totaling about $ 1.5 billion at DappRadar – an annual increase of 2.627%. Dapper Labs ‘ top NBA haul helped bring the NFT into the mainstream, cryptocurrencies broke seven figures each and celebrities made millions, while brands like Taco Bell and Charmin caught up with the trends. Whether it was a still image, video clip, Tweet or any other digital product tagged on the blockchain, the nft was sold as a hot cake.

But then the momentum seemed to be gone. Critics called the NFT crazy, and complaints about the environmental impact of Ethereum increased further, the prices of top shots fell off a cliff, and the participation of a celebrity or athlete in the fall of the NFT was no longer a guarantee of success. However, trading volumes reached $ 2.5 billion in the first half of the year, which suggests interest rates are down from the first quarter, but there is still a lot of activity… albeit with a smaller orchestra than before.

0x8f7cee bought Punk 5217 for 2250 ETH ($5,446, 822.63) from 0xe83c75. https://t.co/JSjHEuaKR4 # cryptopanki # ethereum pic.twitter.com/di8yHKLMJs

– CryptoPunks bot (@cryptopunksbot) July 30, 2021

However, the hype is rising again. Just look at some headlines last week: investor and influencer Gary Vaynerchuk bought crypto on Ethereum for $ 3.7 million, with another $ 5.4 million sale just hours later. Mila Kunis and Ashton Kutcher’s animated web series stoner cats raised $ 8.3 million by selling the NFT (while earning too much Commission for failed transactions). And the average price of cryptopank has soared to $ 135,000 a week, with the wallet holder spending more than $ 53 million to keep.

Today, NFT m

Join the Discussion

  • BrokerEUR/USD
    CMC Markets 0.7pips. (variable) margin: 3.33%
    City Index 0.5pips (fixed) margin: 3.33%
  • Back to top