new data from @NFT statistics shows unique dynamics emerging within the NFT space.

Flippers are now losing 4,000 ETH per week over the past two weeks, leaving market watchers baffled, according to data, as NFT flipping increased as the market rose.

@NFTStatistics is now the opposite. The 30 days saw the highest number of reversals ever recorded. But despite this, he notes that losses from these reversals are approaching historic highs.

Flips last 30 days
(source @NFTStatistics)

NFT flippers lose money

Additionally, @NFTStatistics used on-chain data to show that Flipper has lost over 12,000 ETH so far on Blur trades in the last month. Listed value.

@NFTStatistics hypothesizes that the losses are due to a downtrend in the market, adding that higher trading volumes have led to higher gas prices and royalties, adding to the losses.

Additionally, @NFTStatistics says that NFT owners are dumping assets to bidders, contributing to losses due to flippers.

Cumulative Ys Returns for Blur Flip: Season 2
(Source: @NFTStatistics)
flippers are losing money
(Source: @NFTStatistics)

Other notable NFT news of the week:

  • Meta, Instagram and Facebook have decided to end NFT offerings six months after their debut.
  • manifold offer This new feature allows creators to choose whether to add an optional fee to Burn redemption for each edition created, with 100% of the funds diverted to the creator.
  • Salesforce is tapping Migrate to NFTs through a suite of customer-facing services designed to help you integrate with cloud computing.
  • Yuga Labs continues to expand the Bored Ape ecosystem with new things. sewer pass NFT,Sideways generative drop And the ordinal ones too.
  • Sotheby’s announced Fashionable new NFT exhibition and auction March 17-24 at location in Paris on March 15, inspired by subreddit “Oddly Satisfying”, memes by Anima, Beeple, Lucas Zanot, Josh Pearce and more Inspired art works will be exhibited.
Posted In: Analysis, NFT

By Jules

Leave a Reply