Crypto has been on a downward slope the past couple of weeks – and NFT is going the same direction with the decline in dollar value.
TerraUSD and LUNA both dipped in value registering a tremendous loss of 99%. With UST (pegged with US dollar) now trading at $0.13, LUNA has managed to move to $0.0000914 on Friday afternoon, making the coin nearly worthless.
Consequently, NFTs that are tied with Terra has shown decline in trading activity.
Suggested Reading | LUNA Not Alone In Crimson: APE, AVAX, SOL, SHIB All Lose 20% In Crypto Crash
Ethereum Loses Shine
On the other hand, Ethereum (ETH) is currently trading at $2,000 which suffered a decline compared to its trading value last week at $2,800.
The lowered prices of ETH have trigged the dip on ETH NFT prices associated with a decline in gas fees that power up the Ethereum blockchain.
In the past month, the market value of Bored Ape Yacht Club (BAYC) and other blue-chip enterprises has reached new lows. (eS ..
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