The crypto market has been depressed since last week but non-fungible tokens (NFTs) have proven their superiority as a valued asset with a record of rising prices and incredible trading volumes.
Following the Federal Reserve's (Fed) decision to raise interest rates in March, the stock market has also not been left behind.
The NFT market can be said to be trending with the existence of the Bored Ape Yatch Club (BAYC) and CryptoPunks collections.
It is understood that the floor prices for these two collections rose higher in 24 hours with a percentage record of 13.33% for CryptoPunks and 8.14% for BAYC respectively.
Meanwhile, trading volume for both saw a record-breaking jump in August, surpassing $ 3.2 billion for the month.
If we look at the overall picture of the entire crypto market, we can see the differences between these two types of assets:
NFTs have less liquid characteristics than coins or tokens
NFT is closer to its community by offering incentives to its owners
