Original | Odaily Planet Daily ( @OdailyChina )
Author: Azuma ( @azuma_eth )
The NFT track, which has long been cold, seems to be showing some signs of warming up after a long time.
CoinGecko data shows that the total market value of the NFT sector has rebounded above US$6 billion and is now reported at US$6.417 billion, up 23.2% in 24 hours; the growth in trading volume is even more exaggerated, with total trading volume of approximately US$40 million in the past 24 hours, an increase of approximately 318.3%.
Among the mainstream NFT projects, CryptoPunks, Moonbirds, Pudgy Penguins and others performed particularly well.
CryptoPunks is because a whale spent millions of dollars to buy 45 of them last night (the whale also bought several Chromie Squiggles). According to statistics from NFT artist Jediwolf, a total of 76 CryptoPunks changed hands in just 5 hours from last night to this morning, which is the largest purchase of this series since 2021. As of the time of writing, the floor price of CryptoPunks is temporarily reported at 47.5 ETH, a 24-hour increase of 15.9%.
Moonbirds is because OpenSea briefly changed its official X avatar to a Moonbirds series of pictures last night, which increased its popularity. As of the time of writing, the floor price of Moonbirds is temporarily reported at 1.94 ETH, a 24-hour increase of 33.3%.
Pudgy Penguins, which can be called the light of the industry in the NFT winter, recently appeared in the second season of the American TV series Poker Face, capturing a certain amount of traffic outside the circle. As of the time of writing, the floor price of Pudgy Penguins is temporarily reported at 16.4 ETH, with a 24-hour increase of 13.8%.
In addition to the above-mentioned projects with outstanding performance, most NFT projects have seen good growth. As of the time of writing, BAYC has increased by 13.2% in 24 hours, Azuki has increased by 26.8% in 24 hours, and the Bitcoin ecosystem is no exception. Taproot Wizards has increased by 30.3% in 24 hours.
In addition, NFT concept coins also saw a big rise. OKX market, as of the time of writing, BLUR is temporarily reported at 0.1176 USDT, with a 24-hour increase of 27.4%, currently ranking third on the OKX increase list.
Regarding the recovery of the NFT market, although there were people calling orders in the market earlier, in the past few years, various milking methods surrounding NFT have appeared too many times, but in return the track has become colder day by day, and retail investors have long been numb to similar calling orders tactics.
On July 16, BitMEX co-founder Arthur Hayes predicted on the X platform that ETH Season has arrived, and the DeFi and NFT markets will benefit and make a comeback, but at that time, most of the replies below his dynamics were mainly ridicule.
However, as the copycat season that the market has also been eagerly awaiting has gradually shown some signs of arriving, discussions surrounding whether the NFT market can recover have gradually increased.
FreeLunchCapital, the founder of BitmapPunks and a well-known NFT collector, said today that some institutions have contacted it in advance to try to ambush it - Since two weeks ago, some institutions have contacted me and made some interesting offers. Everyone knows that I don’t sell NFTs, but this is not the case. If the other party has the resources to attract more people to pay attention to NFTs and help the industry move to a higher level, I will consider over-the-counter transactions.
Abstract contributor 0xCygaar and other old players who were active in the last round of NFT cycle are even saying that NFT Season is finally back.
The sudden resurgence of NFT is not too difficult to understand logically.
On the one hand, as ETH rebounded strongly and quickly rushed to a high level, the follow-up funds will consider related investment targets while paying attention to ETH. Since NFT is popular in the Ethereum ecosystem, and most of the current top projects are still concentrated in the Ethereum ecosystem, to a certain extent, the NFT sector can also be regarded as an alternative to ETH . In terms of trading volume, the NFT with the largest trading volume is still the top project with relatively sufficient liquidity on the Ethereum chain, which shows that the funds for this round of small recovery mainly come from within the Ethereum ecosystem.
On the other hand, after a long period of lows, the entire NFT market has been fully cleaned up - weak hands have left, and the dealers who intend to control the market may have already completed the target selection and chip layout. Considering the non-standard liquidity characteristics of NFT itself, NFT may be an easier to operate control option compared to altcoins.
But the problem now is that because the NFT market has cooled down so thoroughly before, the consensus in the track has almost collapsed. Even if the short-term heat increases, it is still unknown whether more retail investors and funds will follow up.
In other words, the current situation is - if you say that the cottage season is coming, there may be many retail investors willing to pay, but if you say that NFT is about to skyrocket, it seems that you might as well believe that I am Qin Shihuang...
