A-Z of how NFT ecosystem has been impacted by the potential collapse of FTX
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Since information broke in regards to the potential collapse of FTX, curiosity in NFTs has dropped.
The NFTs ecosystem has been hit with a drop typically market capitalization, gross sales quantity, transactions depend within the final 4 days
As the remainder of the cryptocurrency market reels underneath the damaging influence of the potential collapse of FTX, the NFTs ecosystem was not overlooked.
For the reason that FTX debacle began on 7 November, there was a drop in NFTs gross sales quantity, market capitalization, the day by day depend of NFTs traded, the variety of merchants out there, and lots of extra.
An evaluation of the efficiency of blue chip NFTs revealed a major drop in Blue Chip Index within the final 4 days. In accordance with NFTGo, Blue Chip Index is calculated by weighting the market cap (ETH/USD) of blue chip collections to mirror their efficiency.
The NFT collections that make up the Blue Chip NFTs class embrace however are usually not restricted to Bored Ape Yacht Membership, Cool Cats, CryptoPunks, Artwork Blocks, and CloneX.
Per information from NFTGo, measured in ETH, Blue Chip Index stood at 8,801, on the time of writing. Nevertheless, since 7 November, this has dropped by 6%.
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