April 18, 2024

The Moonbirds NFT collection has been enjoying strides in the marketplace (as of July 5). This Ethereum-based collection tops the charts as far as sales volumes are concerned, witnessing a 375% surge over the previous 24 hours. The NFT collection sees a lucrative day following positive sentiments throughout the week.

The Flying Birds

The cryptocurrency market has been on a minor rally since July 4. The optimist sentiment within the cryptocurrency markets entered the non-fungible token markets. Moreover, the NFT space has witnessed a 5.8% jump since July 4, following green signals across leading collections.

For now, the Moonbirds collection lead in sales volume with $1.735 million. Moreover, it is in the top five of the week, boasting more than $4.2M in sales. Moonbirds has seen rapid sales increase within the previous week. It saw a 101% upswing within the week to surpass $4.3 million at this publication.

Also Read:  Recent Developments in the NFT Industry: Fanatic Sells 60% Share in Candy Digital, MagicEden Suffers NFT Exploit

Increasing active wallets contribute to the surging sales. This index gained 53% during the week to exceed 500 addresses. Also, Moonbirds NFT collection’s profits attracted market players. Profitability noted a massive increase of 238.9% within the week to $1,670,589.

Though Moonbirds numbers appear lucrative, doubts of the collection decimating soon exist. Extreme conditions within the marketplace have triggered volatility in risky assets. Recently, the Sorare NFT collection topped the charts with nearly unbelievable figures before Moonbirds took over. Will Moonbirds retain their momentum or see new lows?

Imminent Recession

HOLDers need to consider the surging tittle-tattles around a potential recession. Meanwhile, the DeFi and NFT market pioneered struggles when inflation climbed to new heights.

Also Read:  Coinbase CEO to Sell 2% Share

Furthermore, the possibility of NFTs sinking remains undisputed in case of a recession due to their nature. That would mean a massive shock for the non-fungible token community as it starts to recover following the woeful month.

The financial space has witnessed turmoil in 2022 amidst macro-economic development. Geopolitical tension, supply chain issues, rising commodity prices, decade-high inflation, and an imminent recession have deteriorated the fiscal industry. Though nothing remains assured in the risky markets, NFT enthusiasts should prepare in case of the worst.

Stay tuned for upcoming developments in the crypto space.

Editorial credit: mundissima / shutterstock.com

NFTMetaverseFinance is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site (namely Branded Voices content) is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.

Leave a Reply

Your email address will not be published. Required fields are marked *