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- On the tenth of January, X (previously Twitter) silently eliminated help for NFT profile pictures.
- The ground costs of CryptoPunks and the Bored Ape Yacht Membership have since grown.
The ground costs of main non-fungible token [NFT] initiatives have risen following X’s (previously Twitter) resolution to take away the choice for paid subscribers to set NFTs as their profile photos.
On the tenth of January, the social media platform quietly discontinued the characteristic and eliminated all content material referring to NFT profile pictures from its support page.
The Punks and the Apes don’t care
In response to knowledge from NFT Price Floor, the values of the 2 main collections by flooring value, CryptoPunks and the Bored Ape Yacht Membership (BAYC), have risen since this transfer.
At press time, an NFT from the CryptoPunks had bought for 57.77 ETH, rising 8% up to now three days. Likewise, the ground value of the BAYC assortment had climbed by 7% throughout the similar interval.
As of this writing, the NFT assortment had a flooring value of 25.52 ETH.
To this point this yr, the gross sales quantity for CryptoPunks NFTs has totaled $8 million from 164 transactions, in accordance with knowledge from CryptoSlam.
On the eleventh of January, the gathering recorded a single-day excessive of $3 million in gross sales to mark its highest day by day gross sales quantity for the reason that starting of 2024.
Conversely, BAYC’s gross sales quantity for the reason that 1st of January has amounted to $10.27 million. On the thirteenth of January, it recorded a gross sales quantity of $1.6 million, representing its highest day by day gross sales quantity for the reason that yr started, knowledge from CryptoSlam confirmed.
State of the overall market
The yr thus far has seen an uptick in NFT buying and selling exercise. In response to knowledge from NFTGo, there was a surge in buying and selling quantity and a corresponding rally in NFT market capitalization.
Data from the NFT market analytics platform confirmed that for the reason that 1st of January, the whole quantity of NFT gross sales throughout all collections has elevated by 90%. For context, as of the thirteenth of January, this was $27.15 million.
At first of the yr, NFT gross sales quantity was $14.37 million.
As a result of development in buying and selling quantity, the NFT market capitalization has elevated. Because the 1st of January, it has climbed by 3%. As of this writing, the sum of the market capitalization of all NFT collections stood at $8.13 billion.
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