NFTs

NFTs Outperformed Ether’s January Gains | Currency News | Financial and business news

Published

on

Indices that track the prices of non-fungible tokens (NFTs) are up nearly 10% this month, overtaking ether {{ETH}}, the cryptocurrency in which many are denominated, which gained just over 2%.

Nansen’s NFT-500 index, which tracks the 500 most valuable NFTs, is up 9.35% year-to-date, while Blue Chip 10 is up a similar amount. Ether, according to CoinDesk Index Dataadvanced 2.2%.

In an interview with CoinDesk at Taiwan Blockchain Week, Animoca Brands founder Yat Siu pointed to the new maturity and diversity of the NFT space as the reason prices have recovered from the winter 2022-2023 crypto lows.

“Most NFT speculators and GameFi space left, which has strengthened the base as the remaining people are genuinely interested,” he said.

January’s gains are unique because ether NFT prices initially failed to keep up with the cryptocurrency’s late-year advance. Traders, however, appear to have changed their minds as the hunt utilityor real-world uses, is enabled.

The rise comes even as the average price of an NFT drops 13% to $107, according to CryptoSlam data. The number of transactions increased by 30% while sales volume fell 36% to US$1.1 billion for the month. Wash tradinga form of market manipulation in which buyer and seller conspire to give the appearance of demand, is responsible for 39% of all volume, according to data from CryptoSlam.

Some NFT-adjacent crypto sectors are not doing so well.

O CoinDesk CoinDesk Culture and Entertainment Selection Index (CNES)which includes tokens from the Axie Infinity, The Sandbox and Decentraland metaverse, fell 22%.

This story originally appeared on Coindesk

Fuente

Leave a Reply

Your email address will not be published. Required fields are marked *

Información básica sobre protección de datos Ver más

  • Responsable: Miguel Mamador.
  • Finalidad:  Moderar los comentarios.
  • Legitimación:  Por consentimiento del interesado.
  • Destinatarios y encargados de tratamiento:  No se ceden o comunican datos a terceros para prestar este servicio. El Titular ha contratado los servicios de alojamiento web a Banahosting que actúa como encargado de tratamiento.
  • Derechos: Acceder, rectificar y suprimir los datos.
  • Información Adicional: Puede consultar la información detallada en la Política de Privacidad.

Trending

Exit mobile version