𝙸𝚗𝚝𝚎𝚛𝚎𝚜𝚝 𝙸𝚗 𝙽𝙵𝚃'𝚜 𝙸𝚜 𝚆𝚊𝚗𝚒𝚗𝚐
The latest data from aggregator nonfungible.com shows that the volume traded in NFTs has dropped steeply in recent weeks, as NFT-mania slows down.
One part of the NFT market that has held up are "collectibles" — collections like the Bored Ape Yacht Club, which routinely trade for more than $500k+ and double up as a membership card to the "Yacht Club". Trading volumes in Bored Apes, and other high profile projects, have stayed elevated, with ~$15m worth of Bored Apes changing hands per day in April.
That's a lot in nominal terms, but in the context of traditional financial markets it's still small. We picked one of the smallest stocks in the S&P 500 index at random, Campbell Soup Company, and found that it traded more than $57m a day in April, almost 4x the Bored Ape volume.
𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐
