NFT prices take a gut punch as the crypto bear market deepens
NFT sell volume declines sharply after Terra’s blow up led to stablecoins dropping their peg and Bitcoin’s dip below $30,000 raises fear of a prolonged bear market. Without fail, crypto has a way of humbling even the most self-assured and this market is definitely not for the faint of heart. NFT investors have entered what appears to be a bear market and the recent chaos is also impacting community morale. The decline in NFT prices occurred as the United States Federal Reserve raised interest rates, Terra’s Luna and UST-based platforms collapsed and traders came to terms with the reality....
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