February 25, 2024

The broad Ethereum NFT market didn’t note any electrifying milestones lately, despite the leading alt hitting $2K. Meanwhile, CryptoSlam discovered sales volumes in Ethereum NFTs witnessed a 3.38% dip within the past 24 hours.

Nevertheless, the same ETH non-fungible token market noted some eye-catching events. No, it wasn’t about Yuga Labs’ Bored Ape Yacht Club or CryptoPunks.

Aliens Outshining Apes?

Data from CryptoSlam shows 8liens, a genderless NFT collection, outperformed the non-fungible token market over the past 24 hours. The collection registered more than $3M in sales volume in that timeframe. That comes from 3,374 transactions that involved around 1,672 buyers.

The mentioned numbers were well above the activities seen in Crypto Punks and BAYC ecosystems. Though bot recorded upticks, they remained lower than what 8liens recorded.

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CryptoPunks saw its 24hr sales volume increasing by 79.62% to $2.83 million, whereas BAYC noted a modest 4.58% surge to $1.38M. While publishing this post, 8lients trader profits averaged 32.90% as active wallets noted a 122.70% uptick to 2,886.

Despite the mentioned uptick, 8liens remained down from the 0.62 ETH floor price on August 11. While writing these lines, the lowest-priced asset within the 8liens space was worth around 0.298 ETH. Nevertheless, it’s noteworthy that its spot improved since the marketplace last checked.

Can’t Domesticate Bears

NFT enthusiasts could expect the space to follow the recovering cryptocurrency market. Nevertheless, it could not be the time for explosive gains. Remember, the overall NFT industry hasn’t shown full-blow revival signals, recording a 1.80% slump within the past day.

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Other blue chips, including Otherdeed and Sorare, also recorded plunged in their respective 24Hr sales volume. Sorare declined by 51.88%, whereas Otherdeed lost 20.02%. Furthermore, Moonbirds joined the move, dropping by 42.07%.

The probability of the non-fungible token market going bullish remains low despite 8liens’ surge. Moreover, data from NFTGo indicated that the overall NFT market capitalization lost 11.33% within the past three months.

Also, the market remained far from hitting the trader count at that timeframe. Buyers plummeted by 29.32% to 440,644, whereas the total trader could also fell to 658.092.

Stay tuned for upcoming crypto news.

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