Hi everyone!
This time I analyzed the top FxHash collections to see the âbear marketâ effect. If this is the first time reading my market analysis, I suggest you read this first.
There are currently 24 collections with a floor of over 500 Tezos on FxHash. Since the group is big enough, I will have a specific market analysis for these collections. You could call them âthe blue chips.â Some iconic collections arenât on the list as they havenât reached 500 Tezos floors, but probably will at some point.
REMINDER: This isnât financial advice. NFTs are very volatile, and you should always do your own research.
FxHash Market Update - 500+ Tezos floors - 21.6.2022
Link to spreadsheet â https://docs.google.com/spreadsheets/d/1pe-tqV92uXJthzgFJ2AovjFUoXqbFK374icG-Hc49Zk/edit#gid=1168139114
The last time we looked at collections with over 100 Tezos floors, one Tezos was $1.87. The current price is $1.47.
On average, the floor on these collections went up by 46% and close to 16% when adjusted to dollars. These are critical stats as they show FxHashâs NFTs hold or even increase their value even when market conditions arenât ideal.
FxHash users and volume over the past week = 5.71k users and 1.27M in volume. Very close to the previous values, this might be the new normal and wasnât affected by the bear market.
The listings on the top FxHash collections went down by 0.93%.
Ethereal Microcosm by ciphrd had the most significant gains after jumping from 100 Tezos to 569 Tezos floor (+469%).
Uninhabitable by Iskra Velitchkova broke the 1k floor barrier (+217%). This collection traded much higher at some point, as I remember seeing the floor around 1.7k Tezos.
Stitched by pepe_xyz moved from 200 Tezos to 600 Tezos (+200%).
Waxing Crescent by Cyril Diagne gained 200% as the floor moved from 190 Tezos to 569 Tezos.
hollow by mrkswcz continues its impressive run with a 1.3k Tezos floor and +85k Tezos in the total secondary volume.
A Bugged Forest by zancan made headlines as it was an unexpected drop. It is the third collection of Zancan on FxHash and the floor moved to over 900 Tezos in a couple of hours. In just a few days, it has over 200k Tezos in secondary volume putting it behind Garden, Monoliths (also by Zancan), and RGB Elementary Cellular Automaton by ciphrd.
The following collections maintained the same floor over the past month. This means they lost value, which might indicate a good opportunity, especially if you are converting fiat to Tezos:
Dragons by williamapan (-21% when adjusted to dollars).
Loom by andreasrau (-21.42% when adjusted to dollars).
Waiting in Afton by Mjlindow (-26-24% when adjusted to dollars).
The following collections saw a considerable reduction in listings:
Abrupt by landlines art listings went down to 12% from 28%. There are only 3 pieces listed.
Ethereal Microcosm by ciphrd listings went down by 13.33%, and there are only 12% listed for sale.
Stitched by pepe_xyz listings went down by 7%, and there are only 9 listed.
These are the collections with the lowest amount of pieces listed for sale:
RGB Elementary Cellular Automaton by ciphrd (5.8%)
contrapuntos by msoriano (6.47%)
Stitched by pepe_xyz (7.03%).
These are the top 3 collections by PTFR:
A Bugged Forest by zancan (223.54)
RGB Elementary Cellular Automaton by ciphrd (156.43)
Uninhabitable by Iskra Velitchkova (117.80)
These are the top 3 collections by PTFRwS:
The Conjured by goldcat (0.44)
Uninhabitable by Iskra Velitchkova (0.34)
Traveler by ykxotkx (0.32)
What I found the most interesting about this update is the sensation that the market âupdatesâ itself quickly. The floors raised over the past month, reacting to Tezos dropping to $1.2 at one point. This signals that NFTs are slowly but undoubtedly decoupling their value from crypto coins. I think collectors are interested in these collections with a long-term mentality despite what happens with crypto markets.
Until next time,
- Kaloh
Kaloh
