NFT Morning Minute | SEC Probe Shocks Market

NFT Morning Minute | SEC Probe Shocks Market

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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

Major news dropped late Tuesday morning that the SEC is investigating Yuga Labs for potential securities violations. A Yuga spokesperson issued a generic statement regarding cooperation with the investigation, but none of the founders or official accounts have made any announcements since the news broke. The BAYC floor fell 5 percent in the wake to 74.2 ETH, the MAYC floor fell 13 percent to 13.9 ETH, and $APE fell even more, down 7 percent on the day at $4.75.

The entire market was impacted, with overall volume up a tick at 7,500 ETH traded on OpenSea, but with just $9.6 million in USD terms. The last three days have officially marked the three lowest trading days of the year. Additionally, WETH acceptance spiked in the first few hours after the SEC news, reaching 50 percent of all volume, a sign of capitulation in the market as uncertain collectors raced for the exits.

Solana NFTs were not spared in the fallout, with y00ts temporarily dipping to 88 SOL before rebounding to 108 SOL, but their native token $DUST fell 7 percent to $1.20. It appeared the initial capitulation was caused by the SEC news, but then additional news broke that the team's head artist had quit this past Friday amidst the delays in the art rollout. This news came as a surprise, as founder Frank DeGods implemented a new "radical transparency" mechanism three days ago but failed to mention this major exit.

The notable winners on the day were Street Machine, up 97 percent to 0.37 ETH; Cool Cats, up 6.5 percent to 3.59 ETH; and QWERTY up 40 percent to 0.54 ETH. Clone X was notably down 6 percent on the day, to 8.75 ETH.

NFT Total Volume*

  • Bored Ape Yacht Club (666 ETH, 74.2 ETH Floor Price)
  • Mutant Ape Yacht Club (567 ETH, 13.9 ETH Floor Price)
  • CryptoPunks (468 ETH, 66.5 ETH Floor Price)
  • Otherdeed for Otherside (421 ETH, 1.78 ETH Floor Price)
  • Street Machine (242 ETH, 0.37 ETH Floor Price)

NFT Floor Price Increase*

  • Street Machine (97%, 0.37 ETH Floor Price)
  • Wolf Game - Farmer (47%, 0.56 ETH Floor Price)
  • QWERTY (39%, 0.54 ETH Floor Price)
  • 0n1 Force (30%, 0.39 ETH Floor Price)
  • FVCK_CRYSTAL (21%, 0.39 ETH Floor Price)

NFT Floor Price Decrease*

  • CyberBrokers (-14%, 0.9 ETH Floor Price)
  • DigiDaigaku Genesis Adventure Key (-13%, 0.61 ETH Floor Price)
  • Mutant Ape Yacht Club (-12.6%, 13.89 ETH Floor Price)
  • Prime Ape Planet (-10%, 0.27 ETH Floor Price)
  • Bored & Dangerous (-10%, 0.19 ETH Floor Price)

Upcoming NFT Mints

  • Yu-Gi-Yn (12 p.m. ET)
  • Art Blocks Playground "Departed" (1 p.m. ET)
  • Rotten Eggs (1 p.m. ET)
  • _gen+esc (3 p.m. ET)
  • SlyCrocs (6 p.m. ET)
  • Secret Garden: Windchime (9 p.m. ET)

There are several mints on the board today, with several in the art sector. The Art Blocks mint "Departed" will certainly be one to watch, with Monday's drop now up over 100 percent from the mint price. Secret Garden from Mike Shinoda will also be interesting, given Mike's credentials and reach in the NFT community; but as most of us know, music NFTs are still "underappreciated" (translation - do not perform well). 

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 last 24 hours. There is a 0.25 ETH minimum on the projects listed in this roundup.

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