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

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Ethereum Price Prediction
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  • 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.

Source: TradingView

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.

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