{"id":40099,"date":"2021-04-04T14:27:50","date_gmt":"2021-04-04T11:27:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=40099"},"modified":"2025-08-30T12:34:40","modified_gmt":"2025-08-30T09:34:40","slug":"expert-calls-nft-market-correction-a-silent-crash","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/expert-calls-nft-market-correction-a-silent-crash\/","title":{"rendered":"Expert calls NFT market correction a &#8216;silent crash&#8217;"},"content":{"rendered":"<p>Due to the NFT market&#8217;s low liquidity, sellers struggle to gauge buyers&#8217; sentiment, so the asking price for their asset can be significantly lower than the purchase price, according to the CEO of Psyops Capital.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">i really like <a href=\"https:\/\/twitter.com\/mewn21?ref_src=twsrc%5Etfw\">@mewn21<\/a> phrasing of NFT crash as a &#8220;silent crash&#8221;<\/p>\n<p>why? <\/p>\n<p>in liquid markets, you can see prices going down every day. in NFT-land, sellers have slower &#8220;market reaction&#8221;. instead of sellers adjusting prices downwards everyday for a month, it may just -80% &#8220;overnight&#8221;<\/p>\n<p>\u2014 tuba (@0xtuba) <a href=\"https:\/\/twitter.com\/0xtuba\/status\/1375472962594291714?ref_src=twsrc%5Etfw\">March 26, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In more liquid markets, corrections occur daily, unlike the NFT segment, she noted. A representative of the venture capital firm eGirl Capital, who goes by the handle linken, described the situation as a &#8216;silent crash&#8217;.<\/p>\n<p>The minimum offer price for the tokens of one of the oldest and most popular projects in the space, <a href=\"https:\/\/u1f987.com\/en\/news\/unknown-buyer-purchases-cryptopunk-nft-for-4200-eth\">CryptoPunks<\/a>, has fallen by 40% from its peak. As a result, the NFT punks #8282, bought on February 22 for 42 ETH, was sold on April 3 for 27.99 ETH <a href=\"https:\/\/www.larvalabs.com\/cryptopunks\/details\/8282\" target=\"_blank\" rel=\"noreferrer noopener\">sold on April 3 for 27.99 ETH<\/a>. On the next day <a href=\"https:\/\/www.larvalabs.com\/cryptopunks\/details\/7633\" target=\"_blank\" rel=\"noreferrer noopener\">token #7633 went under the hammer for 16 ETH<\/a> \u2014 the previous owner paid 24.99 ETH for it in March.<\/p>\n<p>Analyst Max Minsker noted the decline in NFT prices on the NBA Top Shot platform, which occurred amid several-fold growth in metrics \u2014 the number of buyers, the number of transactions and trading volume.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea84\/3 NBA Top Shot Market Breakdown\ud83d\udea8<\/p>\n<p>Since Feb 1:<\/p>\n<p>Unique buyers per month: 9x \ud83d\ude80\ud83d\ude80<br \/>Total transactions per month: 3x \ud83d\udcc8<br \/>Total sales volume per week: 5x \ud83d\udcc8\ud83d\udcc8<br \/>Market cap: 2.25x \ud83e\udd28<\/p>\n<p>Today I spent 3 hours researching the &#8220;big picture&#8221;<\/p>\n<p>A MEGATHREAD \u2b07\ufe0f\u2b07\ufe0f\u2b07\ufe0f <a href=\"https:\/\/t.co\/GxgPqJJQkT\">pic.twitter.com\/GxgPqJJQkT<\/a><\/p>\n<p>\u2014 Max Minsker (@MaxMinsker) <a href=\"https:\/\/twitter.com\/MaxMinsker\/status\/1378492393796694023?ref_src=twsrc%5Etfw\">April 3, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>However, according to data from NonFungible, overall market sales volume and the number of transactions declined over the past 30 days.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"125\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Market-Overview-Google-Chrome-1024x125.jpg\" alt=\"Expert calls NFT market correction a 'silent crash'\" class=\"wp-image-130296\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Market-Overview-Google-Chrome-1024x125.jpg 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Market-Overview-Google-Chrome-1024x125.jpg 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Market-Overview-Google-Chrome-1024x125.jpg 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Market-Overview-Google-Chrome.jpg 1186w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<p>The most expensive purchase in the segment remains <a href=\"https:\/\/u1f987.com\/en\/news\/beeples-nft-sells-at-christies-for-69-3-million\">NFT Everydays: The First 5000 Days<\/a> by the artist Mike Winkelmann, known by the pseudonym Beeple. The purchaser, Portkey Technologies CEO Vignesh Sundaresan, <a href=\"https:\/\/u1f987.com\/en\/news\/beeple-nft-buyer-reveals-identity\">paid $69.3 million<\/a> including fees.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Due to low liquidity in the NFT market, sellers struggle to gauge buyers&#8217; sentiment, so the asking price for their asset can be significantly lower than the acquisition cost, according to the CEO of Psyops Capital.<\/p>\n","protected":false},"author":1,"featured_media":40100,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1213],"class_list":["post-40099","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-nft"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40099","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=40099"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40099\/revisions"}],"predecessor-version":[{"id":40101,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/40099\/revisions\/40101"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/40100"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=40099"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=40099"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=40099"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}