Nonfungible token (NFT) buying and selling volumes took a large beating following the collapse of Silicon Valley Bank (SVB) final week as traders fled the markets fearing the repercussions of a major United States financial institution going underneath.
According to a March 16 report from knowledge aggregation platform DappRadar, NFT trading volumes had been hovering between $68 million to $74 million in the lead-up to SVB’s collapse on March 10, then fell to $36 million on March 12.
NFT buying and selling volume and gross sales depend on all networks between March 1-13. Source: DappRadarThe ground value of BAYC NFTs fell 2% from 68.4 Ether (ETH) to 67 ETH since the SVB collapse. Source: OpenSeaThe flooring price of Moonbird since the SVB collapse. Source: OpenSea
Continue Reading on Coin Telegraph