NFT Market Continues to Outperform Crypto Despite Correction
The marketplace for non-fungible tokens (NFTs) has outperformed the Best defi crypto this season both when measured in ethereum (ETH) and US dollar terms, based on the Ethereum-focused data analytics firm Nansen.
The entire year-to-date outperformance from the NFT market in accordance with the crypto market is 68.5% when denominated in ETH, and 20.9% when denominated in USD, their new report stated. This implies that the NFT space has organized much better than ETH, with crypto prices tumbling lower for that better area of the year.
Forever of 2022, the cost of ETH had fallen by 32% during the time of writing, while bitcoin (BTC) was lower by 19% within the same period.
Also, based on the firm, the entire year-to-date performance of their Nansen NFT-500 (ETH) index implies that th...