“Blue-Chip” NFTs Have Been Struggling, But Here Are The Collections Bucking the Trends
So-called “Blue-chip” NFTs have been struggling over the course of the last 30 days, crypto data analytics firm Nansen stated in a tweet thread on Tuesday.
Citing its popular NFT price performance dashboard, Nansen noted that many major collections, including the likes of the Bored Ape Yacht Club, have seen their price floors drop by more than 25%.
An NFT’s price floor is the lowest price at which a member of an NFT collection is listed at across major NFT exchanges.
As per Nansen’s dashboard, DeGods lost 55% in the last 30 days, while Azuki is down 36% as it continues to drop in wake of its controversial launch of a new collection called Elements.
However, its not all bad, Nansen noted, pointing to a few major collections that have been breaking the down only trend.
Nansen points to the MiladyMaker NFT collection, which has seen its price floor go up 66% and the Sproto Gremlins NFT collection, which has shot up by over 250%.
In wake of its recent surge, the former is now close to eclipsing the market cap of the Mutant Ape Yacht Club collection.
With such large gains in such a short space of time, there have been some big winners.
Nansen highlights an address that bought 23 Sprotos 81 days ago at a price of 0.03 ETH each, only to then buy another nine at a price over 10x higher the next day.
Sprotos last had a price floor of 1.15 ETH, as per CoinGecko.
Nansen notes that the smart money trader did sell a few Sprotos a few days ago, and remains over 10x up on its initial average purchase price.
It’s always smart for digital asset investors to hedge their bets, given the unpredictability of the market.
One excellent NFT alternative that investors should consider is a new coin being launched by Wall Street Memes, one of the internet's
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