New data reveals unusual NFT flipping trend

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New data reveals unusual NFT flipping trend New data reveals unusual NFT flipping trend
New data reveals unusual NFT flipping trend

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Cover art/illustration via Cryptooshala

new data from @NFTStatistics NFT shows a unique dynamic emerging within the space.

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Data shows that NFT flipping has increased with the market rally, with flippers now losing 4,000 ETH per week over the past two weeks, which has baffled market watchers.

Currently, the opposite is true, says @NFTStatistics. Highest number of flips ever recorded in a 30-day period. However, he notes that despite this, losses from these volatility are reaching historic highs.

30 days passed
(Source @NFTStatistics)

nft flippers are losing money

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In addition, @NFTStatistics shows using on-chain data that Flippers has lost over 12,000 ETH so far in the past month on Blur trades, which he speculates could be in anticipation of the Season 2 token unlock – Their listed price based on the listing accruing value in BLUR tokens.

@NFTStatistics estimates that the losses can be attributed to a downtrend in the market, adding that trading volumes resulted in higher gas fees and royalties, adding to the losses.

Additionally, @NFTStatistics noted that NFT holders are dumping their assets onto bidders, contributing to the losses incurred by flippers.

Cumulative Eth Returns on Blur Flip: Season 2
(Source: @NFTStatistics)
flippers are losing money
(Source: @NFTStatistics)

Other notable NFT news this week:

  • Meta, Instagram and Facebook have decided to stop offering NFTs 6 months after their launch.
  • various offer Paid Burns, the new feature allows creators to choose whether or not to add an option fee on top of the burn redemption with 100% of the funds being diverted to the creator.
  • is salesforce harness into NFT through a suite of customer offerings designed to help integrate with cloud computing.
  • Yug Labs continues to expand the bored app ecosystem with new sewer pass nftwith a generative drop And also an ordinance.
  • sotheby’s announced Inspired by the “Oddly Satisfying” subreddit, a spectacular new NFT exhibit and auction opens in Paris on March 15, March 17-24, featuring meme-inspired art works from the likes of Anya, Beeple, Lucas Zanotto, and Josh Pierce.

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