That’s not to say that everything in your wallet was down. While some top collections like Mad Lads and Pudgy Penguins saw their average sale price fall -15.52% ($6,991.93) and -4.85% ($23,944.29), others found Uptober realized in a very big way.
Azuki’s average sale price climbed +7.86% to $14,793.81, NodeMonkes were up +12% to $9,851.25, and some of the biggest winners saw their average price climb thousands. BAYC was up +17.41% to $35,544.66, Milady +24.67% to
$10,593.23, Bitcoin Puppets +45.57% to $8,477.40, and one of the biggest winners was Retardio Cousins, which climbed +100.42% to $4,551.48.
The “cult” projects continue to be the NFTs that trench warriors (people who focus on memecoin trading) prefer to spend their hard-earned gains on. It makes plenty of sense too.
Collections like Milady, Puppets, and Retardio Cousins have little execution risk, even on the PR front. In this space, controversy is usually pretty bullish for prices. Above all, these collections are a flex to others that you’re an active trader who says will make money in other places, but this asset you own for fun, and you’ll hold it no matter the price. Pretty strong narrative IMO.
Weekly NFT sales fell for the 2nd straight week last week and are down -6.86% to $71.90M. It was a downtrend almost across the board as traders rode crypto to near ATH last week, and pulled back from trading NFTs.