DappRadar reported a decrease in the trading volumes of Non-Fungible Tokens (NFTs) following the collapse of Smart Valor (SVB).

The number of people trading in NFTs on March 11 was the fewest since last November, with only 11,440 participants.

A recent report has found that NFT sales have taken a dramatic dip, with the daily sale count dropping 27.9% between March 9 to March 11. This is the largest decrease in sales since the start of the year, raising concerns among the NFT industry.

NFT trading volume and sales count on all networks between March 1-13. Source: DappRadar
According to DappRadar, the NFT trading volume and sales count on all networks between March 1-13 have reached an all-time high. This surge in activity is likely due to the banking turmoil occurring in America. With the economy in such a state of flux, investors have been turning to NFTs as an alternative investment vehicle. This has allowed the dapp industry to experience a rapid growth in recent weeks, a trend that is likely to continue.

According to a recent report from DappRadar, the number of active Non-Fungible Token (NFT) traders has hit its lowest point since November 2021, with 11,440 active traders on March 11. This is a stark contrast to the all-time high of 109,423 traders recorded in January of this year.

Traders have shifted their attention away from the NFT market following the depeg of USD Coin (USDC) to as low as $0.88. According to a recent report, the depeg caused a decrease in the value of USDC and traders took the opportunity to invest in other markets.

Despite the recent downturn in the crypto markets, the trading of non-fungible tokens (NFTs) has remained resilient. Popular collections such as the Bored Apes Yacht Club (BAYC) and CryptoPunks have seen only slight decreases in their floor prices, suggesting that the market value of NFTs deemed to be of "blue chip" quality has been largely unaffected. These results demonstrate that NFTs may be relatively more resistant to market fluctuations when compared to other digital assets.

The floor price of BAYC NFTs fell 2% from 68.4 Ether (ETH) to 67 ETH since the SVB collapse. Source: OpenSea
The price of BAYC Non-Fungible Tokens (NFTs) has decreased by 2% since the fall of SVB, according to data from OpenSea. The floor price of the tokens has dropped from 68.4 Ether (ETH) to 67 ETH. This is the lowest the tokens have been priced at since the SVB collapse. OpenSea is one of the leading blockchain-based marketplaces for digital assets.

In a disrupted market, investors are finding solace in blue-chip non-fungible tokens (NFTs). According to DappRadar, these top-tier NFTs have shown resilience, with a swift recovery after drops in the market. As a result, these NFTs have revealed themselves as a steady investment even in the midst of volatile market conditions.

The Moonbirds collection, one of the hottest Non-Fungible Token (NFT) series of the season, suffered a major setback today as its floor price on OpenSea plummeted 35.3%, from 6.18 ETH to 4 ETH. The cause of the sharp decline can be attributed to the news that PROOF – the team behind the NFTs – had considerable exposure to SVB, a cryptocurrency project that recently announced plans to shut down its network.

The floor price of Moonbird since the SVB collapse. Source: OpenSea
Since the collapse of the SVB, the floor price of Moonbird has been a hot topic in the crypto world. According to data from OpenSea, a leading digital asset marketplace, the floor price of Moonbird has been on the rise since the market crash. OpenSea has been tracking the analytics of Moonbird to provide investors with the most up-to-date information on the crypto asset.

Investors on the Non-Fungible Token (NFT) marketplace Blur suffered a heavy financial loss today, with sell-offs totaling 700 Ether (ETH). NFTs are digital assets that are unique and cannot be replaced, and until now, have been considered a safe investment.