NFTs Floor Prices Are Bleeding – Investors Blame OpenSea
The non-fungible token market is slightly bleeding today. Over a span of 24 hours, numerous non-fungible token collections have seen their floor prices plummet. Despite the fall in floor price, the daily trading sales volume has risen over 40% to $37 million. This sudden rise in trade volume, along with falling floor prices, means investors are panickily selling their NFTs. NFT Market Bleeding as Wash Trading Takes Over? The latest floor price data paints a grim picture: 📉 Pudgy Penguins down -6.99% 📉 Azuki down -6.34% 📉 Lil Pudgys down -9.42% 📉 BAYC down -4.67% 📉 Kaito Genesis down -1.34% Whales are wash trading NFTs back & forth to farm… https://t.co/wZSyb1bSoX — Crypto Conqueror (@harry_chinh) February 16, 2025 OpenSea Faces Massive Community Backlash Non-fungible token traders have associated the recent sudden fall in floor prices with the recent token farming introduced by OpenSea. Over the weekend, the NFT ma...