The cryptocurrency market, which has devastated investors in recent days, has seen the lowest levels we have seen in many cryptocurrencies in a long time. While Bitcoin’s value has actually fallen below $21,000, the total volume of the cryptocurrency market is also up for the first time in a long time. less than $1 trillion landed. On the other hand, this market drop had the opposite effect in a very different market.

After the sharp decline in the cryptocurrency market led by Bitcoin, the prices of NFT collections also bottomed out. With the market value of the collectibles plummeting due to the declining value of cryptocurrencies, many investors have been found to turn to NFTs. So much so that the trading volumes of popular NFT collections are It has more than doubled in the last 24 hours.

NFT collections prices fall, sales rise

According to CryptoSlam data, the trading volume of many popular NFT collections such as Bored Ape Yacht Club, Mutant Ape Yacht Club, Otherdeed, CryptoPunks, CloneX, and Sorare has more than doubled. The biggest increase In Bored Ape Yacht Club with a rate of 262.79% seen. Mutant Ape Yacht Club followed this collection with 173.49%.

In contrast, data from DappRadar showed that OpenSea is one of the platforms that has most benefited from increased transaction volume over the past 24 hours. According to the data, in OpenSea, in total in the last 24 hours $23.88 million in revenue and trading volume increased by 173.43%. Despite this increase, the number of investors decreased by 15.39%.

• This content is not investment advice.