NiftyNoon: Chromie Squiggle Mania Leads Resurgence in ArtBlocks and NFT Art
Chromie Squiggles and other art NFTs saw large spikes in both floor price and volume yesterday (May 23, 2023)
Nifty Thought
The resurgence of art blocks, particularly Chromie Squiggles, has been swift. Like most fast pumps in the NFT space, this price action may be fleeting in the short term due to the low supply and resulting low volume of these collections. Thus, it does not take many sales for momentum to snowball, nor for it to be abruptly halted. Typically, these quick pumps represent a good opportunity to exit and take profits.
While greed and FOMO could be driving the current price action, it is notable that Chromie Squiggles has been among the first to benefit from this market-wide art pump. This reinforces its status as the premier art collection and the face of generative art, no doubt owed to its place as the first Art Blocks project. Their origin story makes it a project that people care about, leaving an impression that might help them survive into the next bull market.
Highlighted News
Art NFTs continue surging with 17x Squiggles, 6x Fidenzas, 4x Meridian, 3x Archetype, 3x Memories of Qilin, 2x Ringers, 1x Autoglyph and 1x Gazers traded over the past 24 hours:
https://twitter.com/ivan_bezdomny/status/1660766081080852481?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Blend announces support will shortly be live for Kanpai Pandas and Redacted Remilio Babies with new collections coming to Blend every day this week:
Project and Community News
Alts by Adidas announce @0xEvgeniy, the digital and brand marketing professional with over a decade of experience within the sports and entertainment sectors, will be the new Global Head of web3 Strategy & Planning of the Studio:
https://twitter.com/altsbyadidas/status/1660588824261451778?s=46&t=dHHZdw5L70boHRGaM55SSw
Ledger CEO, Pascal Gauthier, explains that Ledger Recover would give the state the ability to recover your Bitcoin private keys in the event of a subpoena:
https://twitter.com/thebtctherapist/status/1660677064700178436?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Ripcache presents his latest work: Public // Private, a fully onchain digital artwork stored on the ethereum blockchain linked to a physical screen print on a metal panel:
https://twitter.com/ripcache/status/1660798855456374788?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
16 Chromie Squiggles sold within the last 24h to individual buyers with the floor price now at 11 ETH (from 9.3 ETH):
https://twitter.com/chrizroc/status/1660654745957150721?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
President Biden says he won’t agree to a debt deal that protects crypto traders:
https://twitter.com/watcherguru/status/1660232140506775552?s=46&t=Hb-nBT0zonE82bFfQEj7Cg
Quick Stats:
OpenSea ETH Daily Volume: 2,871 ETH (▲ 18.00%)
Blur ETH Daily Volume: 8,784 ETH (▼ 35.83%)
BTC: $27296.49 (▲ 2.0%)
ETH: $1852.97 (▲ 2.28%)
MATIC: $0.88 (▲ 1.8%)
SOL: $19.89 (▲ 0.57%)
NFT Daily Winners:
🏳️🌈 Chromie Squiggles: 12.00 ETH (▲ 27.66%)
🧬 Clone X: 3.19 ETH (▲ 1.89%)
🌈 Doodles: 2.23 ETH (▲ 1.87%)
⛩️ Azuki: 14.65 ETH (▲ 1.81%)
🧟 Mutant Ape Yacht Club: 9.54 ETH (▲ 0.47%)
🐈⬛ VeeFriends: 2.23 ETH (► 0.00%)
🥃 Proof Collective: 6.69 ETH (► 0.00%)
NFT Daily Losers:
🚬 CryptoPunks: 48.99 ETH (▼ 0.02%)
🧝🏼♀️ DigiDaigaku: 2.94 ETH (▼ 0.34%)
🦧 Bored Ape Yacht Club: 45.40 ETH (▼ 1.3%)
🦉 Moonbirds: 2.13 ETH (▼ 1.34%)
🐧 Pudgy Penguins: 5.69 ETH (▼ 2.4%)
🏴☠️ Captainz: 8.23 ETH (▼ 5.18%)
🥔 Potatoz: 2.97 ETH (▼ 5.45%)
Notes:
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