7-Day Market Moves
In the NFT market, the Forkast 500 NFT index slipped by 10.46% over the past week, with total NFT transactions plunging by 25.96% to a "mere" $18.58 million. Our NFT playgrounds, Ethereum and Bitcoin, didn't fare well either - transactions on Ethereum, the leading NFT blockchain, saw a 10.50% drop to $13.2 million. Meanwhile, Bitcoin transactions took a more severe hit, plummeting by 72.91% to $1.12 million.
On the brighter side, Sotheby’s, the global auctioneer, wrapped up its second round of sales from the "Grails" collection - NFT artworks owned by the bankrupt crypto hedge fund Three Arrows Capital and its NFT-focused arm Starry Night Capital. The auction raked in $11 million, not to be reinvested in the NFT world, but to recover some of 3AC’s losses.
Elsewhere in the NFT landscape, the ever-popular Bored Ape Yacht Club made some waves, topping the sales by collection with $1.11 million changing hands in the past 24 hours. Hot on its heels was Mythos chain's DMarket game NFTs, which racked up sales of nearly $900,000 from over 51,000 transactions.