Coin

<ul class="news-points"> 
 <li>Ether is up by 60% year-to-date, but NFTs are falling behind, with a valuation decline of 44.82% YTD.&nbsp;</li> 
 <li>Bored Ape Yacht Club’s sales volume declined by 99%.</li> 
 <li>Analysts suggest various reasons for the crash of NFTs, including the dearth of NFT production.</li> 
</ul> 
According to CoinGecko, the price of Ether is up by <a href="https://www.coingecko.com/en/coins/ethereum" target="_blank" rel="nofollow">60% year-to-date</a> (YTD) as of this writing, benefiting from a market-wide price rally. However, ForkastLabs’ 500 NFT index, which measures the valuation of the top 500 NFTs, reveals that the overall valuation of non-fungible tokens (NFTs) has dropped by approximately <a href="https://www.forkastlabs.xyz/indexes/fk500" target="_blank" rel="nofollow">44.82% </a>YTD.&nbsp; 
Concurrently, data aggregator CryptoSlam shows a <a href="https://www.cryptoslam.io/nftglobal?headerPeriod=all&amp;timeFrame=day" target="_blank" rel="nofollow">31% YTD</a> plunge in the NFT sales volume, from $25.90 million to $17.80 million.&nbsp; 
Strikingly, the Ethereum-based NFT collection <a href="https://coinedition.com/why-apecoinsape-nft-narrative-may-help-its-rise-to-1-90/">Bored Ape Yacht Club</a> had an average of $53 million in sales volume in <a href="https://www.cryptoslam.io/bored-ape-yacht-club?headerPeriod=all&amp;tab=historical_sales_volume" target="_blank" rel="nofollow">2021</a>. However, this sales performance has dropped by 99% in the past few months, plunging to $523,000 at present. 
The floor price of notable collections like “The Merge” has even <a href="https://nftpricefloor.com/merge-by-murat-pak" target="_blank" rel="nofollow">dipped</a> from roughly 25 ETH to 1.1 ETH at present. Analysts <a href="https://twitter.com/JoshBobrowsky/status/1665694652559761411" target="_blank" rel="nofollow">suggest</a> various reasons for the c…
The post <a href="https://coinedition.com/ether-price-thrives-with-60-ytd-while-nfts-face-a-45-ytd-downturn/">Ether Price Thrives With 60% YTD, While NFTs Face a 45% YTD Downturn</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Ether Price Thrives With 60% YTD, While NFTs Face a 45% YTD Downturn

Coin Edition

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