Azuki Keeps Tanking amidst bouncing crypto prices

    The anxiety and uncertainty surrounding the cryptocurrency market fall appeared to flow into the tokenized collectibles area as well, with many of the most valuable and in-demand NFT collections seeing dramatic price drops yesterday. With one notable exception: Azuki, an Ethereum profile image collection that has been beset by controversy over the previous day, several of those NFT projects have regained significant value today.

    Crypto prices bouncing for all existing NFTs

    According to data from NFT Price Floor, the floor price—or the least accessible NFT listed on a secondary market—for projects like the Bored Ape Yacht Club, Moonbirds, Mutant Ape Yacht Club, Clone X, and Doodles has all risen by double-digit percentages when measured in US dollars.

    On the one hand, growing values are linked to the price of Ethereum, which has climbed somewhat from its low of a little over $2,200 yesterday. The price of ETH is currently about $2,300. However, when assessed fully in ETH, the lowest-priced NFTs in many collections are still up significantly.

    Moonbirds, a hot new project launched by IT entrepreneur Kevin Rose and his PROOF Collective last month, has seen one of the highest single-day bouncebacks among so-called “blue chip” NFT companies. As of this writing, the Moonbirds floor price is 25 ETH (about $58,000), representing a 41 percent increase in USD value over the previous 24 hours.

    Crypto Prices of Moonbirds and CryptoPunks

    Moonbirds was hammered worse yesterday, reaching a low of around 17 ETH, maybe owing to its recentness. The Bored Ape Yacht Club floor is up 15% to $230,000 (99.8 ETH) today, Mutant Apes are up 23% to over $52,000 (22.5 ETH), and Otherdeed virtual land deeds for the future Otherside metaverse game—from the Bored Ape creators—are up 13% to about $6,900. (nearly 3 ETH).

    CryptoPunks has increased by 5% to a little over $123,000 (about 53 ETH), while Meebits has increased by 28 percent to $13,400. (5.8 ETH). An NFT functions as a blockchain-backed receipt for a digital asset and can be used to represent unique profile images, digital artwork, sports souvenirs, and more.

    Azuki Crumbles still

    Azuki is today’s strange project among popular NFT collections. Following controversies about former NFT projects to which one creator had not previously acknowledged a link, as well as the use of additional pseudonyms, Azuki’s floor price has dropped 43% in the last 24 hours, to around $24,000. (10.4 ETH).

    While the main NFT marketplace OpenSea experienced its lowest single day of Ethereum NFT trading activity on Sunday, with only $52.3 million worth of transactions recorded by analytics platform Dune, it rebounded to over $83.4 million on Monday.

    Azuki NFTs, in particular, have been hot sellers in the last 24 hours as holders sell while newbies seek to get a good price on a once-blazing hot profile image collection. Over the last 24 hours, CryptoSlam reports approximately $45 million in Azuki sales across all platforms, a 734 percent increase over the prior time.

    Despite recent price increases in some collections, the top project, the Bored Ape Yacht Club, is still significantly below its peak price. On April 29, one day before the controversial—yet hugely successful—Otherdeeds launch, A Bored Ape NFT began trading at $429,000 (or 152 ETH). In less than two weeks, the beginning price of a Broad Ape Yacht Club NFT has dropped by over 46% (in USD).

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