NFT Morning Minute | ETH Rally and What Now?

NFT Morning Minute | ETH Rally and What Now?

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Take a minute to catch up on the latest in the web3 space. Here are today's NFT market analysis, top movers, and upcoming mints:

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NFT Total Volume

NFT Floor Price Increase

NFT Floor Price Decrease

Upcoming NFT Mints

Tyler Warner's NFT Market Summary

Tuesday was full of headlines but arguably the biggest was out of the crypto world where ETH rallied a whopping 13.5 percent on the day to $1,530, outperforming the market. BTC is up 7 percent to $20,633 this morning, and alts such as SOL (+11% to $31.40) and  $APE (+6.4% to $4.76) also had strong days. Reportedly over $1B in liquidations occurred on the ETH rally.

NFT trading volume held up surprisingly well during the rally, with 6,530 ETH traded ($9M) on OpenSea along with $1.9M in OpenSea Polygon (thanks Reddit NFTs) to bring the daily total over $10M. Volume was dominated by the Yuga assets, which combined for ~1,650 ETH across BAYC, CryptoPunks, MAYC, and Otherdeeds which all mostly chopped on the day (though Otherdeeds fell 7 percent to 1.25 ETH). R Planet debuted with a 0.08 ETH mint and rallied 1,000+ ETH volume across marketplaces, up slightly at 0.1 ETH floor.

Top movers were led by Art Blocks Curated sets as the chatter of building full Curated sets gained steam in the ecosystem on the back of Seedphrase's full set. The Castaways ecosystem led the losers on the day, as the market did not respond well to their game launch and leaderboard mechanism last night.

The big headlines from Tuesday were led by Pixel Vault rebranding its MetaHeroes as "Inhabitants" and announcing an airdrop for PUNKS Comic #1 holders. The Gutter Cat Gang ecosystem shared that its $GANG coin release will be on hold until "sufficient regulatory clarity" is received and doubtful for Q4 '22. Snowfro will be live minting 10 Chromie Squiggles for the SquiggleDAO this Friday and shared that the remaining supply of 325 will all be minted by the end of 2022. Ryan Carson hinted at plans for an NFT project with benefits to his POAP holders, and LinksDAO announced a PFP drop coming soon but a mint date is TBD (price tag is free + gas).

NFT Total Volume*

  • Bored Ape Yacht Club (578 ETH, 73.8 ETH Floor Price)
  • CryptoPunks (529 ETH, 66.7 ETH Floor Price)
  • Mutant Ape Yacht Club (308 ETH, 13.3 ETH Floor Price)
  • Otherdeed for Otherside (243 ETH, 1.25 ETH Floor Price)
  • Spooky Season: poieeeyee (159 ETH, 0.15 ETH Floor Price)

NFT Floor Price Increase*

  • The Blocks of Art by Shvembldr (49%, 5.75 ETH Floor Price)
  • CENTURY by Casey Reas (39%, 1.95 ETH Floor Price)
  • Trossets by Anna Carreras (28%, 0.74 ETH Floor Price)
  • Pudgy Rods (27%, 0.23 ETH Floor Price)
  • Gangstar All Star Evolution (23%, 0.27 ETH Floor Price)

NFT Floor Price Decrease*

  • DigiDaigaku Adventure Key (-41%, 0.29 ETH Floor Price)
  • Spooky Season: Sys32Tem (-29%, 1.87 ETH Floor Price)
  • Castaways - The Islands (-21%, 4.0 ETH Floor Price)
  • Full Send Metacard (-21%, 0.47 ETH Floor Price)
  • Street Machine (-18%, 0.09 ETH Floor Price)

Upcoming NFT Mints and Reveals

  • Friday Beers (11:00 a.m. ET)
  • Art Blocks Factory: Totem of Taste by Hannah Yan (1:00 p.m. ET)
  • Meta-morphic: Seven Treasures - REVEAL (11:59 p.m. ET)

Friday Beers with 165k followers is likely the mint of the day. The team is touting an overallocated white list, so there is some gas war potential. The other main factor to watch today is this ETH rally and its impact on NFT floors. The rally happened so fast yesterday that traders likely did not have time to adjust. Now that the price is still sitting above $1,500, we will see if current floors can hold after this 15+ percent rally.

For all volume and floor price data, see Lucky Trader's Project Rankings page.

For all upcoming mints, see Lucky Trader's Project Schedule page.

*data retrieved at 8:00 a.m. ET. Volume and percentages are based on the last 24 hours. Notable projects are included, typically with a 0.25 ETH minimum on the projects listed in this roundup.

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