Santiment Unveils Gaming and NFT Screener Showcasing Tokens' Weekly Performances
Crypto data provider Santiment is reshaping how NFT and gaming enthusiasts access information on the best performing tokens in the sector. The platform has unveiled a new Gaming and NFT screener that quickly filters through all trending tokens and displays the data on a simplified list. The list shows top performers in the gaming and NFT segment and compares them with BTC and ETH.
Objective NFT and Gaming Token Data
The new data screener delivers a fantastic way for traders to track Gaming/NFT token money flows and discover the best buy opportunities in the market. Users get access to objective price data to find the best performing NFTs or gaming projects that might be about to pump.
Crypto users now have one central place to sort through all the Gaming and NFT token prices and view and compare the top gainers or losers of the week. That functionality has been missing in the community and should help NFTs continue their explosive trend in the crypto sector.
Could the NFT Craze Affect ETH Prices?
NFTs have emerged as one of the most sought-after blockchain-based assets since they rose to prominence in the crypto space last summer. There are now more investors looking to buy, trade, or speculate on these rare digital collectibles.
As a result, NFT sales have been off the roof—the prices of some of these digital assets skyrocketing in recent months. Meanwhile, the crypto market has experienced unprecedented volatility that saw heavyweights like bitcoin crash in Mid-May.
ETH, the primary asset supporting NFT sales, was the hardest hit during that crypto market retracement. The altcoin has shed almost 50% of its value since hitting a lifetime high above $4K several months ago.
Meanwhile, growth in the NFT market hasn’t slowed down in that period, leading some critics to suggest that the NFT craze could be affecting ETH prices.
One Twitter user blamed the drop in ETH values on non-crypto natives who convert their ETH to fiat immediately after selling their highly-valued NFTs.
For instance, popular digital artwork creator Beeple recently cashed out a whopping $53M in ETH, which he received for the sale of his NFT on Christie’s auction house.
ETH Price not Impacted by NFT, Says Analyst
However, one analyst argues that the impact of NFT sales is too insignificant to affect ETH prices. Patrick Barile, the COO at DaapRadar, noted:
“We’re far from the stage where ether prices are impacted by NFTs, regardless of non-crypto native sellers entering the space and potentially cashing out their ether.”
NFTs hit an all-time high monthly trading volume of $250M in May 2021. That record still pales compared to the ETH deposited in exchanges that month, which stood at $50 billion.
Meanwhile, DaapRadar shows that only about 1.1 million ETH has flowed into the NFT market this year, out of a circulating supply of nearly 117 million.
Related posts:
Source: Read Full Article