Even though non-fungible tokens tend to rebound when crypto markets turn bearish, that isn’t always the case. Several collections note 24-hour price floor declines of 14% and more. One can argue this creates new buying opportunities, although opinions will differ on that front.
Star Sailor Siblings (-24.3%)
The biggest price floor “loser” of the day is Star Sailor Siblings. The project has a bit of a rough trajectory in this segment, indicating investors are getting impatient. Its overall volume has dropped to just over 2 ETH, which is problematic when the floor price is 0.04 ETH. Moreover, the collection consists of 10,100 assets yet has just 2.812 holders. Increasing that latter number is paramount.
The concept of DAOs has proven rather appealing and can lead to some interesting NFT-based initiatives. IreneDAO focuses on the creator economy, yet its NFT collection isn’t necessarily seeing much hype. The declining price floor is now at 0.35 ETH, with 1.9 ETH in 24-hour trading volume. It is one of the smaller collections – just 1,106 assets – held by 485 addresses. Regaining some volume will prove crucial, but that is easier said than done these days.
Sneaky Vampire Syndicate (-15.4%)
Utility is a core aspect of non-fungible tokens, and Sneaky Vampire Syndicate doesn’t disappoint. Its NFTs gave access to advance screenings of the new Scream movie, and the team recently introduced female counterparts to its male vampires. Even so, the collection’s price floor is now 0.57 ETH, with the volume dropping below 14 ETH. The number of holders has risen slightly, though, which is rather interesting.
Crypto Unicorns (-14.3%)
Despite maintaining a high price floor of 1.16 ETH, investors and speculators appear to have soured on the Crypto Unicorns collection lately. Its trading volume is on the decline too, and just 519 addresses hold the 10,000-piece NFT collection. It is easy to manipulate the floor price with so few owners, which may drop rapidly when people begin cashing out.
Capsule House (-14.3%)
Compared to Crypto Unicorns, Capsule House has a much better distribution. The 10,000-piece collection is found across 3,797 wallets, making it more difficult to affect the price floor. Due to a recent dip, that floor now sits at 0.86 ETH. It is a steep decline compared to a week or two ago, and the 20.78 ETH in trading volume may not change that right away.
None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.