New Data Reveals Unusual NFT Flip Trend

New data from NFTStatistics Twitter account shows the recent unusual dynamics in the NFT space.

Market watchers have been baffled by data showing that flippers are currently losing 4,000 ETH per week over the past two weeks as NFT flips have increased in line with the market’s uptrend.

Now, as NFTStatistics reports, the opposite is true. Over the past 30 days, the number of flips has hit an all-time high. However, he noted that despite this, losses from flips remain near record highs.

The trend of flipping NFTs is normalSource: NFTStatistics/Twitter.

NFT flippers lose money

Additionally, NFTStatistics used on-chain data to show that Flippers lost over 12,000 ETH to Blur transactions last month, which he speculates could be due to token unlocks for Season 2 — the book accrues value in the BLUR token according to its listing .

NFTStatistics assumed the losses appeared to be due to a downtrend in the market, adding that trading volumes led to higher gas fees and royalties, which exacerbated the losses.

In addition, NFTStatistics said that NFT holders dumped their assets to bidders, resulting in the loss of flippers.

The trend of flipping NFTs is normal The trend of flipping NFTs is normalSource: NFTStatistics/Twitter.

Other notable NFT news this week:

  • Meta, Instagram, and Facebook have decided to terminate their NFT services 6 months after launch.
  • Manifold offers a paid-to-burn feature that allows creators to choose whether to add an optional fee on top of the burn transition for each minted version, with 100% of the proceeds going to the product owner.
  • Salesforce is leveraging NFTs through a suite of customer services designed to help integrate with the cloud.
  • Yuga Labs continues to expand the Bored Ape ecosystem with the new NFT Sewer Pass, with an overall downtrend in the market and one Ordinals.
  • On March 15th, Sotheby’s announced an epic new NFT exhibition and auction, which will open at its Paris venue from March 17th to 24th, inspired by the “Oddly Satisfying” column on reddit, showcasing Anyma, Beeple, Lucas Zanotto and Josh Pierce.

  • Public Pressure Handshakes with KILT Protocol to Verify NFT Collections
  • NFT trading volume plummets as SVB crashes

board take

According to Cryptoslate

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