NFT News | Who stands out and who falls behind in the fully recovered market?

2023-11-20 15:05

Read this article in 13 Minutes

AI summary

View the summary

In the real world, we have entered winter and the weather is getting colder. But in the Crypto world, November is in full swing.

It's been a long time since we've seen so many opportunities to make money in the NFT market. As a player who is committed to NFT, I have too much to share with you about the NFT market in the past week or even the past half month.

In this issue of NFT News, we summarize the performance and characteristics of various NFT markets in the form of a red-black list. Let's take a look at who shines and who falls behind in the current NFT market's overall recovery trend.

Red List

No.1 - Bitcoin

Similar to the first round of Bitcoin NFT's upward trend, the strength of this round of Bitcoin NFT is still attributed to the popularity of various Bitcoin FT protocols led by BRC-20. After the continuous FOMO of various Bitcoin FT protocols, everyone's attention once again turned to Bitcoin NFT.

In this round of Bitcoin NFT market, the series with a total of 10K clearly received more preference. The advantage of the 10K series is "plenty of quantity", with a large quantity and a low floor price, good liquidity, and convenient for speculative funds to collect chips for market making.

In the 10K series, the most outstanding performers are Bitcoin Frogs and Goosinals. Bitcoin Frogs broke through the high point of 0.1 Bitcoin in the first round of Bitcoin NFT price increase and has accumulated a good reputation. Starting from the end of October, Bitcoin Frogs gradually recovered from the position of 0.02 Bitcoin and recently broke through the previous high in the price increase, with a maximum increase of over 700%.

Bitcoin Frogs Price Trend

Speaking of price increases, the most dazzling one is Goosinals. In the article "Ordinals ecosystem is becoming more fun, is the Bitcoin NFT ecosystem returning from the "casino" to the "art gallery"?", I introduced the background of the project. Since the end of October, Goosinals has seen a maximum increase of over 3000%.

Goosinals Price Trend

Under the leadership of these two star 10K projects, the 10K project has shown a significant recovery. For example, Bitcoin Bear Cubs and Bitcoin Whales, both of these 10K projects have gained over 200% in just a few days.

Bitcoin Bear Cubs Price Trend

Bitcoin Whales Price Trend

Yesterday, there was a new 10K series Mutant Punks. In just one day, the trading volume has exceeded 6 bitcoins, and the floor price was once FOMOed to 0.006 bitcoins.

However, after all the images in this series were fully collected by the trading market, the series began to decline in volume. From the trends of the above 10K projects, we can also see that except for Bitcoin Frogs, which is still relatively strong, the rest have started to experience a pullback. If Bitcoin Frogs also experiences a significant retreat in the future, then this wave of Bitcoin NFT market may come to a temporary end.

Despite this, Bitcoin NFTs still have unlimited potential. The main contributors to this wave of market activity are Chinese investors, while there are still many untapped players in the English-speaking world. In addition, Bitcoin PFPs will differ from Ethereum in terms of narrative, content, and development direction. For example, the highly anticipated "Taproot Wizards" whitelist has already announced completion of a $7.5 million financing round before the whitelist has even been fully released. Projects based on Bitcoin's native meme culture are still waiting to be unleashed. Another example is On-Chain Monkeys, which is about to complete its migration. The series on Bitcoin will all be recorded on the ancient Satoshi in "Block 9", and the narrative of rare Satoshis is yet to be explored...

No.2 - Solana

The price of $SOL has tripled in the past month. As the token price continues to rise, attention has also gradually spread to Solana NFT projects.

Ranked second on the red list, Solana is not only because of its "leading" NFT project with significant influence, but also because Solana has demonstrated a relatively FOMO event.

First, let's take a look at the NFT stars Mad Labs and TENSORIANS on Solana.

Mad Labs is the successful project that has emerged in the encryption industry. On October 31st, Mad Labs announced the launch of its exchange, Backpack Exchange, which has been granted a VASP license by the Dubai Virtual Asset Regulatory Authority.

Starting from November 10th, Mad Labs NFT has been on the rise, with a cumulative increase of over 100% and the floor price breaking the historical high.

Mad Labs Price Trend

On November 16th, Mad Labs launched an activity where users can stake at least 5 $SOL to receive $PYTH rewards after completing KYC. Holders of Mad Labs NFTs will receive the largest share of rewards.

The event is now closed. This was a very successful event for Mad Labs NFT and the Solana ecosystem, with approximately 150,000 KYC applications and over 300,000 $SOL (18 million USD) deposited into the Backpack Exchange in just 3 days. Many people on Twitter and various chat groups are discussing this "fleece" activity.

TENSORIANS' market started on November 10th, and the cumulative increase has also exceeded 100%. The floor price is only one step away from breaking the historical high.

TENSORIANS Price Trend

TENSORIANS is a 10K PFP series officially launched by Tensor, the Solana NFT market. Tensor is currently the largest NFT trading market on Solana.

From daily, 7-day, 30-day to 90-day, Tensor's trading volume has surpassed the former Solana NFT market leader Magic Eden.

The rise of TENSORIANS is not only due to the strong performance of $SOL and Tensor itself, but also the important factor of bringing TNSR native tokens to holders through airdrops.