NFT ecosystem bottoms out – Total market cap drops to $12 billion

We share with you daily data of the unique token (NFT) ecosystem.

CoinMarketCap as of Wednesday, June 15, 2022 datasthe total market value of the unique token (nonfungible token, NFT) ecosystem $12.227.534,557 shows as.

CoinMarketCap to the data According to NFT protocols, the total amount of sales made during the month $17,418,889 level.

NFT ecosystem bottoms out - Total market cap drops to $12 billion

Total amount spent in dollars in sales and the number of unique buyers. Source: CoinMarketCap

TOP 5 – Most profitable NFT tokens in 24 hours

Token Name Price 24h 7g Market value
Rarible (RARI) $2.10 8.3% -27.0% $17,288,066
aura (AURY) $2.28 3.2% -4.6% $21,366,852
Unify (NIF) $12.92 3.1% -19.4% $42,536,454
Cake Monster (MONSTA) $0.0009 2.1% -22.8% $5,939,306$
Alethea (ALI) 0.0226$ 1.2% -28.6% $35,124,434

The most valuable NFT tokens in 24 hours. Source: CoinGecko (Wednesday, June 15, 2022 11:16)

As of Wednesday, June 15, 2022, the most valued NFT token in the last 24 hours 8.3 percent with Rarible (RARI) it happened. Total market value of the protocol $17,288,066 reaching, 1 Rarible (RARI) from $2.10 began to change hands.

The second most valued NFT token in 24 hours 3.2 percent with the increase aura (AURY) recorded as. Aurory (AURY) from $2.28 is being traded. 3.1 percent rising at the rate Unify (NIF) protocol $12.92 level.

According to the shared data, 2.1 percent rising rate of Cake Monster (MONSTA) $0.00091623 and right after 1.2 percent growing Alethea Artificial Liquid Intelligence (ALI) if the protocol $0.02256598 dollars is traded on.

TOP 5 – NFT tokens that lost the most in 24 hours

Token Name Price 24h 7g Market value
Magic (MAGIC) $0.2369 -21.0% -54.1% $12,139,586
Render (RNDR) $0.3424 -20.4% -51.6% $87,186,256
XMON (XMON) $3,703 -17.1% -56.1% $9,089,038 (FET) 0.0944$ -15.6% -39.3% $65,019,814
Phantasma (SOUL) $0.2223 -15.0% -22.6% $23,442,092

NFT tokens that lost the most value in 24 hours. Source: CoinGecko (Wednesday, June 15, 2022 11:16)

According to the shared data, when we look at the declining names of the unique token (NFT) sector in 24 hours, the total market capitalization $12,139,586 calculated and 21.0 percent declining in Magic (MAGIC) token from $0.236925 is being traded.

20.4 percent falling in rate Render (RNDR) from $0.342395 when finding buyers, 17.1 percent depreciating XMON (XMON) if $3,702.64 level.

Also, the data 15.6 percent falling (FET) token From $0.094390 when changing hands 15.0 percent declining in Phantasma (SOUL) $0.222313 finds buyers.

What is a unique token (nonfungible token, NFT)?

Non-fungible token (NFT), which means “unchangeable or unique token” in Turkish, means a unique token encrypted on the blockchain network. NFT, which works differently from the usual coin and token concept; It is a unique, unalterable, original, and absolute property.

In the simplest terms, non-fungible tokens, which cannot be changed and can be described as unique, are produced with different values ​​and originality that cannot be replaced.

To explain with an example, it is possible to exchange a 100 TL banknote with another 100 TL banknote. Because traditional banknotes are interchangeable. The serial number of the banknote does not have any effect on its value, they have a fungibility feature. Likewise, whole gold from the jeweler can be exchanged for a different whole gold or for four quarters of gold.

Fungibility or interchangeability is a critical feature of cryptocurrencies. For example, when a Bitcoin was produced, by which miner it was mined, and in how many wallets it has been in so far does not affect its value. 1 BTC is always 1 BTC.

Non-fungible tokens, on the other hand, have features that make each “unique”. The person who owns an NFT knows that there is no other example of the token in his hand.

For detailed information: What is a non-fungible token (NFT)? How does it work?

The views and comments expressed here are solely those of the author. It may not reflect the views of Cointelegraph. Every investment and trading move involves risk. You should do your own research when making a decision.

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