Price floors collapse across NFT Space: ‘Silent Crash’

Price floors collapse across NFT Space: 'Silent Crash'

There is a poser currently, that if there is reduction in price in the illiquid market, that how long will it take to be observed?

However, nonfungibe tokens reduction in price will be difficult to track, while fungible tokens that are traded on centralized and decentralized exchanges have unique transparency as regards to its movement of price. Still on the difficulty in identifying the price reduction in NFT, it has been posited that premised on their illiquid nature, it will be difficult to measure the sentiment of the overall market for a project and which is the reason, Mewny, Capital member and eGirl has been dubbed as ‘silent crashes’

Sellers may fail to move their wares and the buyers may evaporate in silent crashes, speculators may be oblivious of the it. However, a bull may be turning to a bear, when the lowest price at which NFT can be bought for a particular project and also

Presently sings are pointing to a pathetic crash and this could be bad news on the horizon of NFT collectors.

CryptoPunks, among the earliest and most popular NFT projects for collectors, have seen a over 40% decrease in floor price to 14 ETH (roughly $28,000 at the time of publication). The price capitulation has led to some on-chain horror stories today, such as one speculator who sold a Punk for 16 ETH after purchasing it for 25.5, and another that sold for 27.99 after a 42 ETH purchase.

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