Is CryptoKitties the Next Breakout NFT Collectible? Trading Volume Data Indicates so
According to the recent trading volume data, CryptoKitties, the blockchain game on Ethereum to acquire NFT’s JPEGs, touched nearly $7 million in the last 24h. Chinese Journalist, Colin Wu reported on Twitter that CryptoKitties’ trading volume in just 24h has reached 1,783.59 ETH, i.e., $6,915,655. The trading volume rose since yesterday, September 2, from 1436.09 ETH, amounting to $5,588,017. Furthermore, this displays a conclusive average price of 6.6795 ETH, which amounts to 26,007.83 in USD.
The trading volume of CryptoKitties in the past 24h has reached 1,783.59 ETH. On September 2, the trading volume of CryptoKitties reached 1436.09 ETH, with an average price of 6.6795 ETH. pic.twitter.com/QTEL3uxZvS
— Wu Blockchain (@WuBlockchain) September 3, 2021
CryptoKitties is on a consistent surge with the total number of monthly sales rising from 6831 on August 2, to 8440 on September 2, 2021, according to NonFungible.com
The monthly USD spent on CryptoKitties in August was $338,840.96. However, September saw the surprising skyrocket results to $4,922,496.1.
Monthly active market wallets on 2nd August were 2417, hiking up to 6042 on September 2, 2021.
CryptoKitties fall under the OG group of NFT projects. the virtual cats’ NFT is again bullish and rapidly gaining traction in the NFT sphere. Furthermore, unlike the ridiculously expensive Tokenized sphere, CryptoKitties has managed to stay fashionably affordable. The affordability feature is also furthering its reach and expanding the NFT community.
While CryptoKitties has just begun to gain traction, its competition, CryptoPunks is becoming the market’s new obsession with ETH Whales’ support. As reported by CoinGape, in lieu of the recent Mania of Whales’ CryptoPunk purchase, the prices of these tiny, pixelated JPEGs shot by 53% over the last week.
Post the first investment of over $6 million by an Ethereum Whale into CryptoPunks last week, The market saw an exceptional buying spree for CryptoPunk. According to Etherscan data, last Friday saw the wallet scoop of over 100 NFTs, which in turn increased the average price of CryptoPunk NFTs from 24 ETH to 29 ETH.
ETH Rocks NFT
Last month, the NFT market broke when a JPEG photo of rock was sold for $1.3 million. These Rock tokens are known as ETH rocks, which were created in December 2017. However, the NFT community has gone insane, as the availability of these virtual rocks, is limited to 100. This has in turn led to a hike in the price floor to 730 ETH, i.e., close to $2.3 million dollars.