

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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Related News


Ether Futures ETFs Hit the Market: ProShares, VanEck, and More Offer Options

This marks the first-ever ETFs based on ether futures, following the introduction of the first bitcoin futures ETF two years ago.
Summary
- A range of exchange-traded funds (ETFs) targeting the performance of ether futures have been launched.
- These offerings mark the first-ever ETFs based on ether futures, coming almost two years after the introduction of the first bitcoin futures ETF.
In a significant development for the crypto industry, a range of exchange-traded funds (ETFs) targeting the performance of ether futures have been launched. These offerings mark the first-ever ETFs based on ether futures, coming almost two years after the introduction of the first bitcoin futures ETF.
Renowned for launching the first U.S. bitcoin futures ETF, ProShares leads the charge with the launch of the ProShares Ether Strategy ETF, along with two additional offerings that provide a blend of exposure to both bitcoin and ether. ProShares’ CEO, Michael L. Sapir, expressed optimism about the appeal of these crypto-linked ETFs to investors, stating, "We think that many investors who are interested in cryptocurrencies but are concerned about custody risks, or who are challenged by the learning curve and complexities required to buy them directly, will be attracted to our crypto-linked ETFs."
Bitwise also joined the fray with two ether futures ETFs: the Bitwise Ethereum Strategy ETF and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF.
VanEck, a prominent asset manager, has also entered the arena with the VanEck Ethereum Strategy ETF. This ETF is designed to target capital appreciation by investing in ether futures contracts, providing investors with an alternative path to participate in the robust futures market centered around Ethereum.
Additionally, the VanEck Ethereum Strategy ETF has also entered the market, “designed to seek capital appreciation” through ether futures contracts. As highlighted by Kyle DaCruz, Director of Digital Asset Product at VanEck, these offerings provide a means for investors to tap into the robust futures market surrounding Ethereum.
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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