The NFT market showed signs of recovery over the weekend after a sharp $1.2 billion drop during Friday’s crypto sell-off, according to CoinGecko data. The decline followed a broader crypto market crash that erased nearly $460 billion in total market capitalization.
NFT investors were affected as top Ethereum-based collections, including Bored Ape Yacht Club (BAYC), Pudgy Penguins, and CryptoPunks, saw their floor prices tumble. By Saturday, the overall NFT market cap had fallen from $6.2 billion to $5 billion, a nearly 20% loss.
Despite this, the sector rebounded quickly alongside crypto markets, reaching $5.5 billion on Sunday and stabilizing at $5.4 billion at the time of reporting. Some projects, like Hyperliquid’s Hypurr NFTs and Mutant Ape Yacht Club (MAYC), showed early 24-hour gains, hinting that selective buyer demand is returning. Analysts highlight the market’s resilience and expect continued monitoring of liquidity and floor prices in the coming week.
Source: https://crypto-economy.com/
