December 1, 2023

Ethereum-based non-fungible token (NFT) collection, Azuki witnessed a 311% sales volume increase within the past 24 hours. CryptoSlam data shows approximately $703,760 changed hands between sellers and buyers in the mentioned timeframe. Surprisingly, Azuki wasn’t the only involved collection, with a Solana NFT collection joining the party.

The Solana-based DeGods collection noted a 334.84% volume surge, worth around $659,308. Though NFTs witnessed remarkable rallies, they couldn’t match BAYC’s (Bored Ape Yacht Club) volume. While publishing this post, CryptoSlam’s data indicated BAYC sale volume at $2.07 million, following a 34.82% upsurge.

The Punks

While BAYC topped the ranks, the narrative differs for Larva labs studio’s CryptoPunks. The increase in DeGods and Azuki saw CryptoPunks surrendering their spot.

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CryptoPunks now ranks 8th in the non-fungible token table after leading the pack for some weeks. Unluckily, this collection only registered $464,908 in sales volume. Nevertheless, that reflected an improvement from the August 24 numbers.

The NFT space does not appear to escape bearishness with its ups & downs. For instance, ETH collection noted a 14.88% drop in the overall 24hr shift. Moreover, the chain had 24,964 transactions and 13,411 buyers.

Meantime, Solana collections appear to dominate with their 95.97% surge, worth about $885,924. Also, there have been 14,370 transfers through Solana NFTs, with approximately 1,981 traders purchasing the assets.

100M Exploit?

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As the NFT marketplace remains in despair, the latest report highlighted exploits within the ecosystem. Elliptic, a blockchain-supported compliance network, detailed exploits recorded within the past twelve months.

The report confirmed NFT worth $100 million disappeared from July 2021 to July 2022. Elliptic added that the Ronin attack ensured the most harm. Moreover, the report indicated that CryptoPunks succumbed to one of the hacks in November 2021 when a scammer stole CryptoPunk 4324, worth $490,000.

BAYC wasn’t immune to the hanks as the collection’s stolen NFTs toppled $43.6 million. Meanwhile, it appears that social media remained the most vulnerable.

Elliptic revealed that social media networks accounted for 23% of the hacks, with attackers targeting Discord servers. Moving forward, enthusiasts would only hope for reduced hacks and NFT markets shift to favor bullishness.

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