Tag: marketcorrection

CryptoPunks Sales Plummet Amid NFT Market Correction

CryptoPunks Sales Plummet Amid NFT Market Correction

The NFT market is going through a natural correction, with total sales volume dropping significantly. CryptoPunks, arguably the most famous of the NFT collections that now litter the Ethereum blockchain, has taken a heavy hit. CryptoPunks sales volume has tanked by 80.5% from last week. It currently has a floor...

CryptoPunk #3100's $10M Loss: NFT Winter or Market Correction?

CryptoPunk #3100's $10M Loss: NFT Winter or Market Correction?

It wasn’t long ago that the NFT market was the Wild West of the digital ownership frontier. It has come down dramatically from its high water mark of 2021. Perhaps the most dramatic testament to this transformation was the recent $7.6 million sale of CryptoPunk #3100, one of the rarest...

NFT Market Correction: CryptoPunk's Loss Exposes Unsustainable Hype, Not Failure

NFT Market Correction: CryptoPunk's Loss Exposes Unsustainable Hype, Not Failure

Thus, CryptoPunk #3100 was flipped for a $10 million loss. Instead of thinking through this development, headlines scream “NFT crash!” “The end is nigh!” Let's pump the brakes. This isn’t a eulogy for NFTs, but rather a long-overdue, free market smack upside the head. Think of it like this: remember...