• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Polymarket Set To Go Live In The US Following CFTC Approval, Says CEO
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Polymarket Set To Go Live In The US Following CFTC Approval, Says CEO
DappRadar Report Shows Decline in NFT Trading Following SVB Crash

DappRadar Report Shows Decline in NFT Trading Following SVB Crash

Beenish Khan
by Beenish Khan
2 years ago
·
Posted in NFT
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Three cases of bank collapse have recently occurred and impacted the NFT market. These banks include Signature Bank, Silvergate, and Silicon Valley Bank. This event resulted from strict regulations, an economic downtrend, a liquidity crunch, and failure to meet customers’ withdrawal requests.

Following the recent collapse of the digital bank Silicon Valley Bank (SVB), DappRadar reported a significant drop in trading volumes for non-fungible tokens (NFTs).

SVB Collapse Impact On NFT Trading Volumes

According to the data aggregation platform, DappRadar, the SVB collapse has sent shock waves throughout the cryptocurrency industry as investors begin to reassess their risk exposure to various digital assets. The incident brought the total number of non-fungible tokens traders to its lowest value since November 2021, dropping to around 11,440.

Related Reading: Bitcoin Supply Is Becoming Less Concentrated On Whales With Time, Glassnode Reveals

The report from DappRadar stated that the trading volumes of NFT were fluctuating between $68 million and $74 million before the fallout of Silicon Valley Bank on March 10. As of March 12, the figure declined to $36 million. The decline in trading volumes was a 27.9% dip in the daily sales of non-fungible tokens, recorded between March 9 and 11, 2023.

Before now, Silicon Valley Bank was seen as a key player in the non-fungible tokens market, providing critical financial infrastructure and investment capital for various projects. With its sudden collapse, many NFT projects now struggle to secure funding and liquidity, which is the main reason behind the drop in trading volumes.

The report also highlighted the impact of the broader cryptocurrency market downturn, which has seen major assets like Bitcoin and Ethereum lose significant value in recent weeks.

DappRadar Report Shows Decline in NFT Trading Following SVB Crash
ETH price soars on the chart l ETHUSDT on Tradingview.com

This occurrence may have prompted many investors to shift their focus away from riskier assets like NFTs to more stable assets like gold and government-backed currencies.

The report added that in response to the de-pegging of the USD Coin token, trader attention had moved away from the nonfungible token market, as it fell to $0.88.

Blue Chip Market Value Remains Intact

The decline in NFT trading volumes did not affect the value of blue-chip nonfungible tokens. Despite the recent decline in NFT trading volumes, the value of blue-chip NFTs remains unaffected, based on market watch.

Blue-chip NFTs are high-end digital assets that have retained their value even as the overall NFT market experienced a downturn. While the total NFT trading volumes are down to $36 million, blue chips including CryptoPunks and Bored Apes Yacht Club (BAYC), have maintained their value, even though there was a slight decline in their prices.

According to Greg Solano, co-founder of Yuga Labs, the company’s financial status is not overly exposed to Silicon Valley Bank. This could be the reason for the immunity of these blue chip nonfungible tokens to the declining trading volumes of the broader non-fungible tokens market.

Related Reading: Bitcoin Total Addresses Sees Rapid Growth, Sign Of Adoption?

Aside from this, blue-chip non-fungible tokens provide a unique opportunity for creators and artists to monetize their work in the digital age, creating a new revenue stream in an era where technological advancements have disrupted traditional revenue streams.

Based on DappRadar’s report, the fallout of Silicon Valley Bank and Signature Bank has dramatically impacted the crypto industry, especially the decentralized application ecosystem. These events have raised the need for the digital currency space to rely less on the regular banking infrastructure and become more self-sufficient.

Featured image from Pixabay and chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Beenish Khan

Beenish Khan

Follow

Full Profile

Related Posts

NFT

Decentralized Defense? NFT Group Targets Cold War Nuclear Bunker Buy

4 months ago
nft

Mutant Ape NFT Creator To Forgo $1.4 Million, Escapes Jail Time

10 months ago
NFTs BAYC Punks MAYC OpenSea Binance Bitcoin

NFT Market Down 92%, Analyst Thinks This Is The Best Time To Invest

10 months ago
NFT

NFT Market Crashes: 95% Of Assets Become Worthless

1 year ago
Yuga Labs

Yuga Labs Announces Another Company Restructuring And Layoff In 6 Months

1 year ago
NFT

NFT Market Resurgence: Investors And Creators Rekindle Interest In Digital Assets: Report

1 year ago

Premium Sponsors

Press Releases

  • XRP is expected to break through $7. APT Miner helps...

    1 hour ago
  • miner

    Expectations of a Federal Reserve rate cut and demand for...

    5 hours ago
  • miner

    BlackRock suspends XRP listing, price faces resistance...

    5 hours ago
  • miner

    The September Curse Returns: How Crypto Investors Can...

    6 hours ago
  • Ethereum Price USD: The Latest Innovations of Crypto’s...

    7 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.