TechBizWebTechBizWeb

    Subscribe to Updates

    Get the latest news about Technology and Business from all around the web..

    What's Hot

    Trump versus the rule of law in 2024

    August 13, 2022

    This customizable smart display is a fun desk accessory in need of a purpose

    August 13, 2022

    The Coast, a photography special

    August 13, 2022
    Facebook Twitter Instagram
    • About Us
    • Privacy Policy
    • Guest Post
    • Terms
    • Contact
    Facebook Twitter Instagram
    TechBizWebTechBizWeb
    Subscribe
    • Home
    • Technology

      This customizable smart display is a fun desk accessory in need of a purpose

      August 13, 2022

      Apple asked for a cut of Facebook’s ad sales years before it stifled Facebook’s ad sales

      August 13, 2022

      Ikea and Electrify America team up to install over 200 public fast chargers in 18 states

      August 13, 2022

      How to use Flex Mode on the Galaxy Z Flip and Z Fold

      August 12, 2022

      The Zoom installer let a researcher hack his way to root access on macOS

      August 12, 2022
    • Business
    • Cyber Security

      Avoid these employee monitoring blunders

      August 12, 2022

      Cybersecurity lessons from the red team: How to prevent a data breach

      August 12, 2022

      Data security, surveillance practices to be examined by FTC

      August 12, 2022

      Why it pays to be an early adopter of cybersecurity technology

      August 12, 2022

      The top identity-based attacks and how to stop them: Part 1

      August 11, 2022
    • Blockchain
    • Vulnerabilities
    • Social Engineering
    • Malware
    • Cyber Security Alerts
    TechBizWebTechBizWeb
    Home»Blockchain»NFT Sales Slide to a 12-Month Low Amid Crypto Meltdown
    Blockchain

    NFT Sales Slide to a 12-Month Low Amid Crypto Meltdown

    July 3, 2022Updated:July 3, 2022No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The bloodbath in the crypto market has contributed to sales in the non-fungible token (NFT) sector slipping to a 12-month low, according to crypto analytics firm Chainalysis.

    NFT sales slightly topped $1 billion in June, the worst performance since June 2021, when sales reached $648 million. 

     

    NFTs became the talk of the town when sales hit an all-time high (ATH) of $12.6 billion in January this year, but a sluggish start is witnessed in the second half of 2022.

     

    Ethan McMahon, an economist at Chainalysis, pointed out:

    “This decline is definitely linked to the broader slowdown in crypto markets.” 

    Factors like tightened macroeconomic conditions have not been friendly to the cryptocurrency market as its value has nosedived to less than $1 trillion from approximately $3 trillion in November last year.

     

    For instance, the US Federal Reserve recently increased the interest rate by 75 basis points (bps), making the hike the highest in 28 years. 

     

    Therefore, McMahon believes that consolidation will continue to be experienced in the crypto market, including NFTs. He noted:

    “Times like this inevitably lead to consolidation within the affected markets, and for NFTs we will likely see a pullback in terms of the collections and types of NFTs that reach prominence.”

    Despite NFT sales exceeding $42 billion so far in 2022, their prominence has been dented by various factors that have engulfed the crypto market.

     

    For instance, the collapse of LUNA and the algorithmic UST stablecoin by Terraform Labs sent shockwaves to the crypto market. 

     

    In May, things started going south when UST’s price experienced a free fall to the extent that leading crypto exchange Binance temporarily halted its withdrawals together with that of LUNA. 

     

    Since NFT Google searches had surpassed those of Ethereum and crypto in January, it remains to be seen how things shape up for this market moving forward. 

    Image source: Shutterstock

    bitcoin blockchain News
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Tron’s Justin Sun Hopes USDD to Become First Stablecoin in “EthereumPOW ecosystem”

    August 12, 2022 Blockchain

    Spanish Football Giants Barcelona and Real Madrid Seek Crypto Trademark Protection

    August 12, 2022 Blockchain

    Huobi Group Founder in Talks to Sell Almost $3B Company Stake

    August 12, 2022 Blockchain

    KuCoin Pairs with DeFi Data Aggregator 1inch for Implementing Native Swap Function

    August 12, 2022 Blockchain

    MakerDAO Intends to Depeg DAI from USDC

    August 12, 2022 Blockchain

    Bullish Sentiment Restores in Crypto Derivatives Markets, Surged to $3.12 Trillion in July

    August 12, 2022 Blockchain
    Editors Picks

    This customizable smart display is a fun desk accessory in need of a purpose

    August 13, 2022

    The Coast, a photography special

    August 13, 2022

    Chinese state-run groups to voluntarily delist from Wall Street

    August 13, 2022

    Mexico president calls time on brewing as drought intensifies

    August 13, 2022
    Trending Now

    Expat teachers balk at Hong Kong’s quarantine strictures

    By techbizweb

    Debt defaults start to loom more over markets

    By techbizweb

    Thirteen Lives and the hour of the ordinary hero

    By techbizweb

    https://www.nationalsportsacademy.com

    slot gacor hari ini

    http://www.inadesfo.org/

    http://www.eueomgbissau.org/

    http://www.congo-mai-mai.net/

    http://www.angelesdelafrontera.org/

    http://fifaworldcup2018schedule.com/

    http://tony4gtrmcr.co.uk/

    http://www.standrewsagreement.org/

    http://www.bob-russell.co.uk/

    http://davidmulholland.co.uk/

    http://railwayhotelenniskillen.com/

    http://www.fantasysportstrades.com/

    http://www.rainleaf-flooring.com

    http://mothersagainstguns.org/

    http://ma-coc.org/

    slot online

    http://www.paradoxmag.com/situs-judi-slot-online-gampang-menang-2021/

    http://www.paradoxmag.com/situs-judi-slot-online-terbaru-2021/

    http://slot-terbaru.net/

    Slot Gacor

    Slot Online

    Situs Slot Gacor

    http://www.appdexterity.com/

    https://cars4kids-deutschland.de/

    https://www.stretchingculture.com/

    https://www.b-123-hp.com/slot-gacor/

    https://denzstaffing.nl/

    https://ezbbqcooking.com/slot-gacor/

    https://www.mbahelp24.com/slot-gacor

    https://minhtanstore.com/slot-jackpot-terbesar/

    https://njbpusupplierdiversity.com/slot-gacor-gampang-menang/

    https://www.floridaspecialtycropfoundation.org/slot-gampang-menang/

    https://childrenscornerpreschool.org/slot-gacor-gampang-menang/

    https://cryptoquoter.com/slot-online-terbaik/

    https://alorkantho24.com/slot-gacor/

    https://ellas.xyz/slot-gacor/

    https://it.dougamatome.xyz/slot-online/

    https://www.daltercume.com/slot-gacor/

    https://josi-ana.dougamatome.xyz/slot88/

    https://josi-ana.dougamatome.xyz/slot-gacor/

    https://fastobserver.com/slot-jackpot-terbesar/

    https://www.planetexperts.com/slot-gacor/

    https://bfsolution.group/slot-bet-kecil/

    https://rustleva.co/slot/

    https://bfsolution.group/slot-bet-kecil/

    https://www.hotelcalimareal.com/togel-online/

    https://anime-game.dougamatome.xyz/slot-gacor-gampang-menang/

    https://anime-game.dougamatome.xyz/togel-online/

    https://bourbonbarrelfoods.com/slot/

    http://suneo39.wp.xdomain.jp/slot/

    https://techbizweb.com/slot-gacor/

    https://www.generalcatalyst.com/18-daftar-slot-gacor-terbaik-gampang-menang-jackpot-hari-ini/

    https://www.hotelcalimareal.com/slot-online/

    https://www.blockgates.io/slot-gacor/

    https://l12.com.br/slot-gacor/

    slot paling gacor

    https://www.donalds-hobby.com/slot-online/

    https://thecryptodirt.com/slot-gacor-hari-ini/

    http://iseta.edu.ar/aulavirtual/app/upload/users/1/1205/my_files/sbobet.html

    http://escuelavirtual.mincit.gov.co/app/upload/users/1/194/my_files/slot.html

    https://www.dev.medecinesfax.org/courses/JUDICASINO/document/slot.html

    http://www.e-archivos.org/cursos/courses/JUDICASINO/document/slot-gacor.html

    http://iesma.com.br/ead/main/upload/users/4/447/my_files/slot.html

    https://www.fundacoop.org/chamilo/app/upload/users/1/1185/my_files/slot.html

    https://fata-aatf.org/eskola/main/upload/users/3/31/my_files/slot.html

    https://uancv.edu.pe/ofinvestigacion/app/upload/users/3/328/my_files/slot-terlengkap.html

    https://micost.edu.my/EL/app/upload/users/2/209/my_files/slot-gacor.html

    https://www.academiacoderdojo.ro/elearningdev/app/upload/users/2/2442/my_files/slot-online.html

    http://campus-cidci.ulg.ac.be/courses/JUDICASINO/document/slot-termurah.html

    https://www.escueladerobotica.misiones.gob.ar/aula-ste/courses/LIVECASINO/document/slot-tergacor.html

    http://ccdipeepccqqfar.usac.edu.gt/chamilo/app/upload/users/3/358/my_files/slot-online.html

    https://cunori.edu.gt/campus/app/upload/users/7/7334/my_files/slot-online.html

    http://u-rus.com.ar/aula/app/upload/users/1/1322/my_files/slot.html

    http://icrodarisoveria.edu.it/chamilo/app/upload/users/1/1855/my_files/slot.html

    https://iestpliliagutierrez.edu.pe/clarolgm/courses/CASINO/document/slot.html

    http://pva.cobach.edu.mx/app/upload/users/7/7379/my_files/slot.html

    http://www.imb-pc-online.edu.gt/PL/app/upload/users/3/373/my_files/slot.html

    http://avcs.upeu.edu.pe/main/upload/users/3333/my_files/slot.html

    https://chamilo.fca.uas.edu.mx/app/upload/users/1/11186/my_files/slot-online/

    TechBizWeb
    Facebook Twitter Instagram Pinterest Vimeo YouTube
    • Home
    • Guest Post
    • About Us
    • Privacy Policy
    • Our Authors
    • Terms and Conditions
    • Contact
    © 2022 Tech Biz Web. Developed by Sawah Dev.

    Type above and press Enter to search. Press Esc to cancel.