The NFT market has been experiencing an interesting and unique dynamic lately, according to data from @NFTStatistics. As the market has seen an upswing and NFT flipping has increased. NFT Flippers have been losing 4,000 ETH per week over the past two weeks, which has left many market watchers baffled.
Despite this, @NFTStatistics notes that the 30-day period has seen the highest number of flips ever recorded. However, he also points out that losses from these flips are approaching historic highs. In the last month alone, NFT flippers have lost over 12,000 ETH on Blur trades. This may be due to the anticipation of the Season 2 token unlock. With listings accruing value in BLUR tokens based on their listed value.
These losses can attribute to the downward trend of the market. Additionally, the volumes of trading have resulted in high gas fees and royalties. Which adds to the losses experienced by flippers.
Moreover, @NFTStatistics notes that NFT holders have been dumping their assets onto bidders, contributing to the losses incurred by flippers. This trend has only intensified in recent weeks, as the market has seen a surge of interest in NFT flipping.
Despite the losses that flippers are experiencing, the NFT market continues to attract attention from investors and collectors alike. The unique and valuable nature of NFTs creates a new asset class. It remains to be seen how this market will continue to evolve in the coming months and years.
In conclusion, the NFT market has been experiencing a unique dynamic. Flippers losing money despite a surge in interest and activity. While there are several potential factors contributing to these losses. The overall trend of the market may be the most significant. It will be interesting to see how the NFT market continues to develop and whether or not these trends will persist over time.