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Analysis: 98% of NFTs Launched in 2024 Unprofitable, Only 0.2% Yield Gains

A recent analysis has revealed that the non-fungible token (NFT) market struggled in 2024, with untimely price drops and several failed projects. The research by NFTevening and digital PR agency Storible examined more than 29,000 NFT collections released throughout the year, compiling data from OpenSea and Dune analytics. NFT Market Profitability Struggles Dubbed “State of […]

Iconic NFT Collection CryptoPunks Reigns in Market Share Amid BAYC Decline: Report

The iconic NFT collection CryptoPunks appears to be making a comeback this year amidst the ongoing NFT bear market. According to CoinGecko, the CryptoPunks collection currently leads the NFT market with a 30.9% share among the top collections, a position it solidified after surpassing Bored Ape Yacht Club (BAYC) in May 2023. CryptoPunks Sees Resurgence […]

Top OpenSea Employees Step Down Amid Regulatory and Financial Troubles

OpenSea, one of the most prominent NFT marketplaces, has experienced a significant downturn in its overall business operations due to several factors, including low engagements in the sector. Over the past few months, some top employees have left the company to work elsewhere as the firm’s troubles continued to pile up. With a significant reduction […]

96% of NFTs Deemed ‘Dead’ as Market Struggles with Speculation and Volatility

The non-fungible token (NFT) market has witnessed explosive growth, followed by significant downturns over the past few years. Despite the initial hype and heavy investment, it is now grappling with severe instability. According to a report from nftevening.com, a staggering 96% of NFTs are considered “dead” based on three factors – zero trading volume, minimal […]

Tether Dominates Polygon’s Stablecoin Market with $792M Cap, Growing 29% QoQ

Polygon has witnessed a remarkable surge in its stablecoin market capitalization this quarter. According to the latest report from Messari, the Ethereum Layer 2 solution’s stablecoin market cap soared to a whopping $1.5 billion, reflecting a significant 19% increase on a quarter-over-quarter basis. Stablecoin Adoption on Polygon Soars Tether’s solidified its position as the dominant stablecoin […]

Blur Maintains Lead in NFT Marketplace, Clocks $1.5 Billion in Q1 Volume

Riding in the coattails of a broader market resurgence, the NFT trading space witnessed in 2024 Q1, with volumes across the top 10 marketplaces soaring to $4.7 billion. According to CoinGecko’s latest report, Blur maintained its stronghold as the leading NFT marketplace during this period. During the first quarter of 2024, Blur recorded $1.5 billion […]

CryptoPunks NFT Fetches Millions: Punk #7804 Sold for Over $16M in ETH

The once-hot NFTs witnessed a significant downturn during the crypto winter. But this sector again appears to have bounced back following the widespread rebound of digital assets. One of nine Alien Punks was sold for 4,850 ETH – the second-largest CryptoPunks sale ever – just days after a similar recent transaction of Alien Punk #3100. […]

Bitcoin Ordinals NFT Craze: NodeMonkes Sees 53% Surge in Floor Price

NodeMonkes, Bitcoin’s premier NFT collection, has surged by over 50% in the past 24 hours, surpassing Bored Ape Yacht Club (BAYC) in market capitalization. According to data from CoinGecko, NodeMonkes witnessed a 53.3% surge in its floor price, making it the second-largest NFT collection in terms of market cap. NodeMonkes and Runestone’s Floor Price Surge […]