SNEAK PEEK
- Mimay tops daily NFT sales with $741K despite Solana’s 30% market decline.
- Pudgy Penguins and Milady Maker see strong sales amidst Ethereum’s market dip.
- NFTs maintain demand amid crypto volatility, driven by collections like CryptoPunks and DogeZuki.
Solana’s Mimay has emerged as a standout performer in the NFT space. Despite a sharp decline in the overall market capitalization, Mimay recorded significant daily sales, leading the NFT sales chart. This notable achievement highlights the growing interest in NFTs and their potential resilience amidst broader market challenges.
According to CryptoSlam data, Solana based NFT collection Mimay sold 5,254 NFTs worth $741,214 and ranked number one on the daily sales chart. This performance came as the overall cryptocurrency market cap threatened to fall below $2 trillion for the first time since February.
The general performance of the Solana blockchain has played a significant role in Mimay’s achievements, revealing the NFT’s effectiveness in highly fluctuating markets.
The cryptocurrency market experienced significant turmoil, with Bitcoin falling below $50,000 for the first time since February. CoinGecko data reveals that Bitcoin was trading at $54,363 as of 11:30 a.m. ET on Monday.
The Solana network’s native cryptocurrency, SOL, saw a dramatic 30% decline over the past week. This decline aligns with a historic stock market crash in Japan, where the Nikkei 225 Index recorded its largest single-day points loss, dropping 4,451.28 points.
In terms of daily NFT trading volume, Pudgy Penguins ranked 2nd on the Ethereum network with $642,585. Ether’s too experienced a 20% devaluation during its low even when the market is struggling, but Ethereum-based collections remain appealing.
Milady Maker, another Ethereum-based NFT, was ranked third with total sales of $508,647. Both of these collections demonstrate that NFTs remain popular even amidst other fluctuations in the market.
As per blockchain records, the latest sell-off data shows that a proprietary trading firm called Jump Trading has been selling off its Ether and staked Ether. This activity has raised concerns that the firm is closed its crypto division as a result of regulation. The market trends also indicate that there is a changing nature in the market owing to a few issues arising from traditional cryptocurrencies but NFTs are still stable.
Other comparable NFTs include the Bored Ape Yacht Club, and CryptoPunks where both had massive daily trading with the latter having five transactions worth $364400.
The Solana’s DogeZuki Collection received much activity, specifically 8,407 transactions amounting to $358,730. These performances leave a stamp of the versatility and constant change of the NFT market and the opportunities it offers to investors as well as collectors.
