gm - August 15th, 2023

gm 👋 Volumes pick up in NFTs, nearing $18M in the past 24 hours across the top chains. Ethereum volumes stand at $12M, driven by DeGods with $3M and BAYC + MAYC with $1.6M. Polygon has a strong day with $1.5M, led by DraftKings with $500k and y00ts with $400k. Solana has $1.4M, and Mythos comes in with $900k thanks to DMarket. The top sale on the day is a CryptoPunk at $90k, while three of the top five are BAYC in the $60-70k range.

Machibigbrother's bags has become increasingly heavy over the past few days, with a cumulative 100+ in BAYC and 250+ in DeGods. This is on top of the bids getting hit on Blur for DeGods in general, making loan liquidations more likely and adding further downward pressure to the floor. DeGods now sits at 4.5 ETH, and y00ts has broken through 1 ETH, trading at 0.95 ETH. NFTstats.eth put out a chart of the delta of top projects' market cap over a 6mth period, reporting a whopping $2.2B in value has evaporated from NFT markets.

NFT Market over the past 6 months lost $2.2B across top projects
(source: NFTstats.eth on Twitter)