The Rise of Doodles NFT Series: Analyzing the 229.39% Increase in 24 Hour Trading Volume

04/30/2023 14:06 • Metaverse Matters • 80 views

On April 30th, according to NFTGo.io data, the Doodles series NFT24 hour trading volume reached 1259.15 ETH, an increase of 229.39%. The current floor price of this series of NFTs is 2.99 ETH, with a 24-hour increase of 4.37%.

The Doodles series NFT has a 24-hour trading volume of 1259 ETH

As the era of digital assets continues to thrive, crypto enthusiasts and investors witness surges in the demand for Non-Fungible Tokens (NFTs) with each passing day. The latest buzz in the NFT world is the Doodles NFT series that has taken the crypto market by storm. On April 30th, NFTGo.io data showed that the Doodles NFT 24-hour trading volume surged by 229.39%, reaching an all-time high of 1259.15 ETH. This article aims to explore the sudden increase in popularity of the Doodles NFT series, analyze the current floor price, and understand the factors contributing to its rise.

Understanding the Doodles NFT Series

Doodles NFT series is the first-of-its-kind that features free-hand drawn art with zero digital modification. Each NFT showcases unique art designs that range from animals to objects, all drawn on a plain white canvas. It boasts of being rare, authentic, and stands out from the rest of the NFT collections available in the market today.

Analyzing the Rise in 24 Hour Trading Volume

The recent surge of Doodles NFT series can be attributed to a mix of factors. Firstly, the rarity of the collection has attracted a group of elite investors who are keen on collecting unique art pieces. Secondly, the minimalistic and straightforward design of the Doodles series has significantly contributed to their appeal. Lastly, the overarching rise of the NFT ecosystem has increased the demand for one-of-a-kind digital art pieces.
The 24-hour trading volume increase of 229.39% from April 30th reflects that Doodles NFTs are gaining more attention and acceptance from the crypto community. For potential investors, this growth rate suggests that the value of each Doodles NFT is likely to rise in the future.

Current Floor Price and Increase

As of now, the current floor price of a Doodles NFT stands at 2.99 ETH, reflecting a 24-hour increase of 4.37%. The floor price is the minimum price that an NFT in a particular collection is sold for. The rise in floor price can be attributed to the surging demand for Doodles NFT, which has led to an increase in its rarity.

What’s Next for Doodles NFT?

The rise of Doodles NFT is not only a testament to the booming NFT market, but it also showcases a shift in the definition of digital art to more traditional art forms. As the popularity of NFTs continues to increase, it is likely that we may see more traditional art forms being embraced in the NFT market. With the current rise in the demand for Doodles NFT, investors and crypto enthusiasts alike are eagerly waiting to see where the market takes these unique art pieces.

Conclusion

The rise of Doodles NFT series is a sign of growing interest in NFTs as a viable investment option. With the increasing price of bitcoin, investors are looking for alternative investment options in the crypto world, and NFTs seem to be taking center stage. The Doodles NFT series, with its simplistic yet elegant designs, has managed to capture the attention of investors and art collectors alike. With the growing demand and interest, the future of Doodles NFT seems to be promising for those who invested in it at an early stage.

FAQs

1. Can I buy a Doodles NFT at a price lower than the floor price?
– The floor price is the minimum price that a Doodles NFT can be sold for. You may be able to purchase a Doodles NFT for a lower price through marketplace negotiations.
2. Are there limited editions of Doodles NFTs?
– Yes, each design of the Doodles NFT series is limited to a certain number of editions.
3. Are Doodles NFTs transferable?
– Yes, like any other NFT, Doodles NFTs are transferable and can be traded on compatible marketplaces.

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