Ethereum NFTs Surge 690% In Daily Sales Volume – What Does It Mean For Proprivex?
NFTs have become a pivotal part of the crypto sphere. From 2020 to 2021 the trade volume for NFTs grew from $95 million to $24.9 billion. It is no surprise that more and more cryptocurrencies are catering to this market. As digital transformation takes place, and blockchain technology becomes widely adopted, NFTs are expected to grow with it.
In this article, we will examine two cryptos that are involved in the NFT sector. Ethereum (ETH) hosts the most recognised NFT marketplace, OpenSea. Proprivex (PPX) is a trading and portfolio management platform specific to digital assets and currencies with plans to create multi-chain NFTs.
The Altcoin Leader – Ethereum (ETH)
Ethereum (ETH) has set a precedent for other altcoins to follow. The crypto giant boats an impressive $200 billion market capitalisation at the time of writing. Although it is still $200 billion away from Bitcoin (BTC), Ethereum is miles ahead of any crypto below it. Recently, an Ethereum NFT collection by, CryptoDickbutts, surged by 690% in daily sales volume.
The tremendous surge has moved the Ethereum NFT collection to the number 6 ranking for the day. It has surged past established NFT collections like Cool Cats, Art Blocks, and Goblin Town. While many NFT projects fade away as quickly as they start trending, Ethereum’s NFT collections appear to remain resilient.
Ethereum NFT sales volume could potentially be spiking because of the Goerli testnet merge which is currently live. The merge is changing Ethereum from Proof-of-Work (PoW) to Proof-of-Stake (PoS). Increased transaction speeds combined with a lower carbon footprint are what Ethereum users can expect from the upgrade. It is plausible that this has helped Ethereum increase its popularity in the NFT sector.
It’s nothing but good news this week for Ethereum. The Ethereum 2.0 merge has undoubtedly been the most popular story surrounding crypto this year, and the testnet merge appears to be a success. Also, Ethereum has reported positive numbers over the past seven days. The crypto giant has risen by 2.26% at the time of writing.
The Proprivex (PPX) Mission
Proprivex (PPX) has created a dynamic ecosystem that caters to the need of its users in various ways. Proprivex believes the crypto world needs trustworthy and transparent asset managers. Furthermore, it needs an ecosystem that is trustworthy, simple, interactive, intuitive, secure, and community-driven.
Proprivex intends to create an ecosystem that encompasses all of the above. It believes in being people-driven instead of profit-driven. It is why it has plans to implement a DAO. Once you hold the PPX token you will be eligible for rewards and to vote on matters concerning the platform. You can even submit proposals of your own!
So, what does the Ethereum NFT surge mean for Proprivex? Well, Proprivex has plans to launch an NFT marketplace and NFT rewards in Q1 of 2023. The NFT marketplace will be accompanied by multi-chain NFTs. They will be integrated with cross-chain and DeFi properties for increased use cases and utility.
Potentially, the reception for Proprivex NFTs could skyrocket as NFTs become increasingly popular. Users’ transactions will also be gamified with NFT rewards attached to the different milestones. Find out more here.
The spike in daily sales volume for Ethereum NFTs could be the catalyst for widespread NFT adoption. With Proprivex having plans to release its NFT marketplace in Q1 of 2023, traction on the platform could rise exponentially. Proprivex plans to be one of the most secure and community-driven platforms in the market, do you think it will live up to expectations?
Published By : Coin Codex