NFTs
ETH NFTs in Banana Zone
![ETH NFTs in the Banana Zone](https://tokentalk.top/wp-content/uploads/2024/05/1716341410_ETH-NFTs-in-Banana-Zone.png)
Last month, co-founder and CEO of Real Vision Raoul Pal said crypto appeared to be on the brink of banana zonewhere majors and altcoins rally strongly as new all-time highs (ATHs) are reached.
This, ahem, banana zone perspective came into even more focus this week when the price of ETH rose to +$3,700 on news that the U.S. Securities and Exchange Commission (SEC) appears prepared to approve its first ETH ETFs.
With ETH now within 24% of its previous record high of $4,878, and having yesterday seen inflows of $75 billion on ETF excitement alone, it is not a stretch to assume that an official ETF approval in the coming days could boost ETH through its previous ATH and into price discovery mode.
Why? As DCinvestor recently pointedA supply-side crisis appears to be brewing around ETH.
Imagine the buying pressure from large inflows on Wall Street, which could be considerable, to say the least.
So imagine the pushback as Ethereum only issues about 2,500 ETH per day currently, and sometimes that issuance can be completely compensated for burning feesand how there is a ton of ETH essentially locked up in stakes and across various applications and Layer 2s (L2s) right now.
by X
These factors create a perfect storm for a dramatic supply shock. As more institutional investors and retail buyers rush to gain exposure to ETH, the limited supply in circulation will apparently struggle to meet this demand. This dynamic could propel ETH into uncharted territory, pushing prices well beyond previous ATHs.
For those of us who accumulate ETH, this would be great – bringing the banana zone squared. But what else should we look for?
In turn, the king of bananas himself, Raoul Pal, thinks that the next NFT bull run will accelerate once ETH breaches its previous ATH.
by X
Personally, I agree, as we have seen this happen before. When ETH rallied strongly in 2021, people also rallied strongly around things you could do with your ETH, like NFTs.
That said, if ETH really takes off in the coming weeks, then it’s not out of the question that the floor prices of, say, major ETH NFT collections like CryptoPunks, Bored Apes, Pudgy Penguins, and Miladies will double or surpass by the end summer’s. You would also undoubtedly see a resurgence of NFT applications like NFTfi platforms if this were to happen.
by CoinGecko
Of course, I thought Runas would catalyze the Ordinals ecosystemand while there are certainly synergies still to come here, this catalysis has not yet come to fruition.
And certainly, I think it’s always good to anticipate the unexpected. Perhaps the arrival of ETH ETFs will not be a major catalyst for the ETH NFT scene. However, the arrival of Runes and the arrival of ETH ETFs are very different beasts.
Runas hasn’t ushered in the next leg in the crypto bull market, but ETH ETFs appear poised to do just that. And ETH’s potential supply-side crisis has no analogue to Runas.
If the price of ETH reaches new heights, holders will feel more risky, and a non-trivial number of them will bid on NFTs they were eyeing in the past bear market. Additionally, NFT projects of all types have a better user experience than they did a few years ago, so the ecosystem is more fertile now.
Another angle to consider is that new bullish momentum in ETH and ETH NFTs would likely spur a new wave of innovation and experimentation within the NFT space, from crosschain experiences to gaming and more.
In short, then? We may be on the cusp of the next period of transformation in crypto, where NFTs and their use cases emerge again. Stay tuned and prepare yourself, because things could get crazy soon…
NFTs
https://news.google.com/./articles/CBMiKmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9idXNpbmVzcy02NzI5NTc4NtIBLmh0dHBzOi8vd3d3LmJiYy5jb20vbmV3cy9idXNpbmVzcy02NzI5NTc4 Ni5hbXA?hl=en-US&gl=US&ceid=US%3Aen
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Fuente
NFTs
AI-Powered Discovery Network for NFTs Launches $PULSR Token – Press Release Bitcoin News
![AI-Powered Discovery Network for NFTs Launches $PULSR Token – Press Release Bitcoin News](https://tokentalk.top/wp-content/uploads/2024/04/AI-Powered-Discovery-Network-for-NFTs-Launches-PULSR-Token-–-Press.jpg)
https://news.google.com/./articles/CBMiVGh0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS9haS1wb3dlcmVkLWRpc2NvdmVyeS1uZXR3b3JrLWZvci1uZnRzLWxhdW5jaGVzLXB1bHNyLXRva2VuL9IBAA?hl= en -US&gl=US&ceid=US%3Aen
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NFTs
Solana Monkey Business Leads NFT Sales with $875,91K
![Solana Monkey Business Leads NFT Sales with $875,91K](https://tokentalk.top/wp-content/uploads/2024/07/1722041110_Solana-Monkey-Business-Leads-NFT-Sales-with-87591K.png)
Image: AI-generated via Midjourney
Solana Monkey Business topped CryptoSlam’s non-fungible token (NFT) sales charts on July 22 with $875,914 in total sales.
The collection had 122 unique buyers, equaling the number of sellers, and an average price of $5,308 per NFT.
This increase in daily sales boosted the SMB’s all-time sales volume to a new record of $212.48 million.
The Solana-based ape-themed collection entered the list of the top 30 NFT sellers of all time over the weekend, knocking SATS BRC-20 NFTs off the rankings.
The second best performing collection of the day was gETH Locked Deposit.
This NFT, which represents gETH locked on the Ethereum layer-2 network Arbitrum, saw a daily sales volume of $583,047 from just one transfer.
The asset was brother-in-law just moments before the transfer is made.
In third place, DMarket’s NFTs and in-game virtual items on the Mythos Network saw a total of $565,002 in sales.
The collection attracted 3,254 unique buyers and 2,848 sellers, with an average price of $24.66 per item. Active DMarket owners stood at 5,111, contributing to a total owner count of 397,931.
Outside of the top three, Ethereum’s DogeZuki Collection came in fourth place with $436,787. Bored Ape Yacht Club, another Ethereum collection, had total sales of $341,576 for fifth place.
While a Solana collection led the day’s results, the network’s total NFT sales for the day were slightly outpaced by Ethereum.
Ethereum led all blockchains in sales on Monday with $4.2 million, with Solana close behind at $4.1 million.
NFTs
ArcadeXYZ Secures $450,000 in Ringers NFTs
![ArcadeXYZ Secures $450,000 in Ringers NFTs](https://tokentalk.top/wp-content/uploads/2024/07/ArcadeXYZ-Secures-450000-in-Ringers-NFTs.png)
NFT lending remains strong despite the overall downward trend in prices.
Arcade.XYZ, a non-fungible token (NFT)-based lending protocol, secured $450,000 worth of NFTs from Dmitri Cherniak’s Ringers collection on July 24.
The loan is structured with a principal of $16,000 per NFT, and the current highest bid on the Ringers collection on Opensea is 8 wETH, equivalent to approximately $26,000.
The big loan comes at a time when darlings of the generative art scene like Ringers and Fidenzas continue to see their floor prices drop. Bells It is Fidenzas both have surpassed the 2021 minimum price of 100 ETH and are now at just 17 ETH and 32 ETH.
Collateralized Ringers – Arcade.xyz
Despite the slowdown in sentiment and prices around NFTs, the lending market continues to process consistent volume.
Some of the largest platforms, Blend, Gondi, NFTfi, and Arcade process over $80 million in outstanding debt combined. The NFT lending market broke volume records in Q1 2024, surpassing $2 billion in total volume.
Q1’s extraordinary lending volumes can be attributed to Blend’s Blast airdrop incentive and the rise of Ordinals loan in the Arcade.
The largest NFT loan belongs to CryptoPunk 8219 by NFT collector Gmoney, which was guaranteed for $1 million in Gondi XYZ, and holds a current principal of $700,000. A far cry from the claims made in the mainstream media that “Your NFTs are actually, finally, totally worthless.”
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