Ethereum NFT holders may gain a sense of security after reading this

According to data from DappRader, top sales of Non Fungible Tokens (NFTs) in the last 24 hours showed NFTs on the Ethereum [ETH] network in the lead. A Bored Ape Yacht Club (BAYC) NFT topped the list with the sale attracting 91 ETH, valued at over $120,000. Now, the question is- Does ETH stand to […]

network in the lead. A Bored Ape Yacht Club NFT topped the list with the sale attracting 91 ETH, valued at over $120,000.

Now, the question is- Does ETH stand to emerge as the undisputed king of the NFT market with the ongoing developments in sight?The leading NFT network, Ethereum, had been criticized for its high energy consumption., a platform indexing implication of digital trends, stated that the total annual energy consumed to secure Ethereum increased in 2021. The total energy consumed surged from 9 TWh to more than 81 TWh.

However, Ethereum’s shift to PoS witnessed a shift in its energy consumption as well. Furthermore, as perWell, Ethereum’s move would thus, lower the barrier to the incorporation of NFTs into the mainstream. This was a result of NFTs being environment-friendly and shutting down initial reservations by critics.The recent market turmoil had an impact on the development and adoption of NFTs, as well as the major cryptocurrencies. According to‘ data, NFT trading dropped significantly.

While the leading NFT collections including BAYC, Sorare, Mutant Ape Yacht Club, Otherdeed, and CryptoPunks witnessed a decrease in floor price and buyers and sellers over the past 30 days, Ethereum Name Service was in the green.

As per the tweet, users in 100 countries will be able to share NFTs and connect wallets. Users can also cross-post digital collectibles for free between platforms, tag producers and collectors, and more.Subscribe to get it daily in your inbox.

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