As Bitcoin and Crypto Market Suffers, Solana’s Mimay Dominates NFT Sector
Mimany led the non-fungible tokens (NFTs) daily sales chart on Sunday as the cryptocurrency market capitalization fell below US$2 trillion for the first time since February.
The Solana-based collection had a daily sales performance of US$741,214, according to CryptoSlam data.
But SOL, the Solana network’s native cryptocurrency bled about 30% of its value over the past week, with Bitcoin falling below US$50,000 for the first time since February, CoinGecko data shows.
Bitcoin traded at US$54,363 as of 11:30 a.m. ET on Monday.
The crypto market sell-off comes amid a historic stock market crash in Japan, where its benchmark Nikkei 225 Index closed down 12.4%. Its 4,451.28 points drop is the largest single-day points loss ever.
On the Ethereum network, Pudgy Penguins came in as the day’s second-ranking NFT collection with a daily sales total of US$642,585.
Ether, the network’s native cryptocurrency was also caught in the center of the crypto market plunge as it lost around 20% of its value.
Blockchain data shows that Jump Trading, a prop trading firm, unloaded its Ether and staked Ether holdings recently with large moves coming over the weekend.
Some industry watchers speculate that Jump Trading’s activities signal that it is closing its crypto division amid regulatory troubles.
Milady Maker, also on the Ethereum blockchain claimed the third spot in the day’s NFT market by generating US$508,647 in sales.
Other notable collections include CryptoPunks and DogeZuki Collection, which ranked fourth and fifth respectively.
CryptoPunks, an Ethereum-based pioneer in the NFT space, recorded daily sales of US$364,400 with only 5 transactions. Solana’s DogeZuki Collection, on the other hand, saw a massive number of transactions totaling 8,407, with daily sales reaching US$358,730.
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