Top 10 NFT Projects Soar in Trading Volume Despite Market Dip
The NFT market is seeing green following a surge in trading over the past 24 hours amid the crypto market and floor price crash.
According to data gathered from NFT aggregator CryptoSlam, the top 10 crypto projects by sales volume in 24 hours are all up, with the least (goblintown.wtf) having an 11.77% increase. At the time of writing, five NFT projects are up by more than 100%, namely Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), CloneX, Sorare, and Doodles.
The increase in trading can be attributed to the volume of collectors and investors trying to grab cheaper NFTs as floor prices nosedive. In total, the top 10 NFT projects recorded an almost 100% increase in the last 24 hours in trading volume at press time.
BAYC takes the top spot, with a 159.35% surge over the past day, and posted over $6.6 million in sales.
In fact, the current CryptoSlam rankings are led by all Yuga Labs NFT projects. Behind BAYC is MAYC, with a 108.65% 24-hour increase and $3.2 million in sales. Meanwhile, Otherdeed posted an 81.69% spike and $2.5 million in sales. Notably, Otherdeed allows users to own land plots in Yuga Labs’ metaverse project, Otherside.
While most of the NFT projects are seeing surges in trading volume, ShitBeast and MurakamiFlowers are currently bleeding. At the time of writing, the two collections respectively recorded a 6.76% and 44.75% buying and selling plunge in the last 24 hours.