

Liquid Collectibles Sees 38% Drop in NFT Demand for September

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Continued decline in the cryptocurrency market, has meant investors moving away from the speculative assets class.
***Editor’s Note: This story originally contained an incorrect calculation of the percentage decline in NFT demand. This error was corrected at 14:00 UTC on Oct. 6.***
Liquid Collectibles Logs Decline
In September, the total NFTs traded on Liquid Collectibles, the NFT liquid market maker on BNB Chain, was 296. This represents a 38% decline in NFTs sales count from the 480 traded on the platform in August.
With the year so far marked by a consistent decline in the general cryptocurrency market, interest in profile picture (PFP) NFTs has taken a hit. According to data from Dune Analytics, NFTs trading volume clinched an all-time high of $17.16 billion in January, 2022.
However, as the cryptocurrency market took a beating through the year, NFTs sales volume plummeted. At the time of writing, NFT sales volume stood at $53.43 million, declining by 97%.

Since the high recorded in January, there has been a severe decline in monthly trading volume on various NFTs marketplaces. Leading marketplace OpenSea has registered a 93% decline in monthly trading volume on the platform since January.

DappRadar data showed that only 58 addresses have used Liquid Collectibles in the last 30 days. With 128 transactions completed within that period by these addresses, a 28% decline in transaction count has been logged on the NFT liquid market maker. According to Heilig Leknud, the project’s marketing manager, the decline in trading on Liquid collectibles is attributable to the deterioration of “market conditions” and the “lack of (NFT) listings” by its users.
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Do Kwon Faces Extradition to the United States Over Terra Crypto Collapse

The decision, yet to be officially announced, follows the US Securities and Exchange Commission's (SEC) charges against Kwon for alleged crypto asset securities fraud.
Montenegro's Justice Minister is reportedly inclined to extradite Do Kwon, the founder of Terraform Labs, to the United States, according to a recent report from The Wall Street Journal.
Do Kwon, a key figure in the Terra blockchain ecosystem, is wanted by the United States and South Korea for his alleged involvement in the downfall of Terra's digital assets.
The decision follows Kwon's arrest in Montenegro last March. The collapse, which occurred in May 2022, triggered a broader market downturn affecting major players in the cryptocurrency space.
Legal Maneuvers and Extradition Talks
Kwon, who initially agreed to be extradited to South Korea, now faces the possibility of extradition to the United States. Montenegro's Justice Minister has privately communicated the decision to send Kwon to the US to answer charges related to financial crimes.
The specific charges include commodities fraud, securities fraud, wire fraud, and conspiracy to defraud and engage in market manipulation during Kwon's tenure at Terra.
Despite Kwon's earlier agreement for extradition to South Korea, the final decision rests with Justice Minister Milovic. The minister may await the outcome of a potential last-ditch appeal by Kwon against the court ruling.
Milovic emphasized that the decision would be made public "in a timely manner," leaving room for speculation on the intricate legal proceedings.
SEC Charges and Market Impact
The United States Securities and Exchange Commission (SEC) had previously charged Kwon with defrauding investors in crypto schemes in February. The legal action marked a pivotal moment, linking Kwon to allegations of orchestrating a multibillion-dollar crypto asset securities fraud.
In May 2022, Terraform Labs' collapse had a significant impact on the broader cryptocurrency market, impacting major platforms like Voyager Digital, BlockFi, Celsius Network, and FTX.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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