NFT traders averaging 1k ETH losses per day — blue chip NFTs floor price tanks
Holders of non-fungible tokens (NFT) are selling at a loss – with traders losing an average of 1000 ETH daily.
In accordance data divided by NFT statistics, trading returns over the past three months showed traders losing as much as 3,000 ETH on some days. The chart focuses only on secondary sales of NFTs and not those selling coins for the first time.
This is a stark contrast from what happened in the market in 2021. At that time, NFT trading profits peaked in August 2021 – when traders averaged around 30,000 ETH daily profits.
The positive momentum continued until May 2022, when the market turned differently. Since then, traders have mostly sold their digital assets at a loss.
NFT’s floor price dip
According to available data, the floor price of several NFT collections has fallen significantly from previous peaks.
For context, Bored Ape Yacht Club fell 11.73% in the past 30 days to 51.2 ETH – a significant drop from the 77.9 ETH recorded in mid-February. The decline is even more significant, considering that the highest floor price was 153.7 ETH in May 2022.
Another popular NFT collection Cryptopunks has also fallen 18.27% to 49.9 ETH at the time of writing.
Mutant Ape, CloneX, RTFKT, Doodles and Meebits have significantly reduced floor prices. Most of these projects have fallen by double-digit base prices in the last 30 days.
The only exception was Azuki — which rose more than 13% during the period.
Meanwhile, President Trump’s relatively new “Series 2” NFT collection has also fallen more than 10% below its $99 purchase price, according to OpenSea data.
Available data from other NFT aggregators such as CoinGecko and Nftpricefloor also show the same trend that the floor price of these assets has fallen significantly.
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