A massive increase in sales of Blue-chip NFT: ETH price stagnates.

• The NFT market saw a massive increase in sales of blue-chip NFTs. While Ethereum’s price did not show any sharp movements.
• Although the trading volumes have increased recently, It failed to reach its all-time high. 
• These NFT figures are connected to ETH because earlier, ETH was a major tender in the NFT market. 

The price of an asset depends largely on its trading volume. So much so that it could be a deciding factor in market predictions. Recently, the price of Ether has been hovering around $1,246.71, and the trading volumes of some major NFT projects saw a rise. 

Meebits saw a 2,457% increase in transactions and a 1,472% increase in sales. At the same time, IP CryptoPunks, owned by Yuga Labs, also saw a 300% increase in transactions and a 255% increase in sales. 

Also, in the past 24 hours, Azuki ‘web3 anime universe’ increased by 490% in transaction numbers and its sales increased by 550%, per CryptoSlam, an NFT analytics platform. Azuki ‘sidekicks’ BEANZ saw a massive 1,000% increase in transactions and a 631% increase in sales.

This list keeps increasing as the anime-based Limit Break’s DigiGaikagu collection saw a 1,700% increase in transactions and a 1,210% increase in sales. 

Even such high values failed to raise the overall trading volume, as they remained significantly lower than their all-time highs. 

The market trend of top 5 NFTs. 

According to crypto slam, the top 5 NFTs, with details of their sales and transactions along with their buying and selling in the last 24 hours, are listed below.

Bored Ape Yacht Club: saw a sales drop of 12.27% at $2,263,761; its transactions were also down by 3.75% at 27. At the same time, its buy is down by 21.74% at 18 and sales at 33 with a drop of 26.67%.

Mutant Ape Yacht Club: saw a drop in sales by 43.23% at $1,960,524, its transactions dropped by 36.93% at 111, its buy also saw a drop by 40.91% at 52, while its sales dropped by 35% at 117. 

Valhalla: saw a massive increase of 461.38% in sales at $1,379,612, its transactions also increased by 372.92% at 1,135, its buying increased by 325.81% at 660, and its sales also increased by 335.80% at 767. 

So rare: also saw an increase in transactions by 16.65% at $588,127, while its transaction saw an 8.74% increase of 13,537, its buying increased by 9.98% at 4,704, and its sales saw an 8.16% jump at 4,703.

Azuki: saw a drop of 85.67% at $541,621, while its transactions dropped by 83.02% at 36. And its buying dropped by 50% at 35, and sales dropped by 77.25% at 48.

Ethereum Market Analysis.

Ethereum was trading at $1,245.68 at press time, down by 2.15%. At the same time, its Market cap is down by 2.16%, at $152 billion, although its volume saw a massive increase of 33.21% at $4 billion. 

If the current trends continue, it is supposed to find support at $1,083.28 and resistance at $1,685.72.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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