It’s time for another FxHash market update! This time will look into the top collections (500 Tezos floors only) since we last reviewed this group over 2 months ago.
A couple of reminders:
If this is the first time reading my market analysis, I suggest you read this first.
This isn’t financial advice. NFTs are very volatile, and you should always do your own research.
This report is purely analytical. I’m not analyzing collections from an artistic point of view. I do that in other articles.
Link to spreadsheet → https://docs.google.com/spreadsheets/d/1pe-tqV92uXJthzgFJ2AovjFUoXqbFK374icG-Hc49Zk/edit?usp=sharing
FxHash Market Analysis - 500+ Tezos floors only - 26.8.2022
FxHash and Tezos General News and Stats
Included new collections: Zee by Lucas S. Reveil, horizon(te)s by Zach Liebermann, Iskra Velitchkova, Turner Light by ileovoivm
Tezos price went up over the past weeks and reached $2; it currently sits at $1.63. The last time we looked at this group of collections, it was worth $1.47.
FxHash users/volume over the past week was 3.82k users and $683k in total volume. The last time we reviewed FxHash weekly stats (first week of August), it was 4.75k users and $962k in volume.
Average floors went down by 15.5% but only 6.35% when adjusted to dollars. Listings went up, from 12.53% to 15.63% on average.
The total volume in Tezos blockchain during August might end lower than the previous month. Nevertheless, it has already surpassed the total volume of August 2021. That was the quietest month in volume over the last year, which was followed by the highest volume in Tezos history in September 2021. Could we see a spike in volume during September, similar to last year?
Tezos total volume (transactions and contract calls) over the past year. Source: tzstats.com
FxHash Top Movers
Dragons by williamapan had the most significant gains as the floor moved from 1,4k to 2,3k Tezos (+64%). William Mapan was one of the artists in the Proof Grails Season 2, and his Antycylone collection had a great reception in Art Blocks Curated.
The Conjured by goldcat is the second-best performer after moving from 575 to 699 Tezos. Although gen art isn’t goldcat’s specialty, she is finding great success lately, which seems to expand to her only gen art collection until now.
contrapuntos by msoriaro slightly increased the floor to 1k Tezos (5.37%), and listings went down to 5% in the market.
A Bugged Forest by zancan keeps slowly rising and might cross the 1k Tezos floor soon (909 to 930 Tezos floor). The number of listings starts to look healthy at 14%.
Turner Light by ileovoivm minted in a dutch auction which started at 250 Tezos. The floor is 480 Tezos and used to be over the 500 mark a couple of days ago. Be aware there are over 40% listed for sale.
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Additional Insights (Premium Subscribers Only)
Here are some interesting stats that caught my eye:
Traveler by ykxotkx went down from its peak (over 1k Tezos floors) to 540 Tezos floor. Nevertheless, listings went down by 8.13%. This is a relatively small collection with 160 pieces, and it might soon be an excellent time to pick up one Traveler if you missed the first wave.
Lepidoptera by Mjlindow has the lowest number of listings, from 8% to 5% (5 out of 100). The floor has remained relatively stable over time.
contrapuntos by msoriano was already mentioned in top movers. Still, I would like to emphasize the number of listings is pretty low (in second place, next to Lepidoptera). The difference is this is an extensive collection of over 700 pieces, while Lepidoptera is a small collection. msoriaro just released his latest collab with Andreas Rau, a big success.
horizon(te)s by Zach Liebermann, Iskra Velitchkova have been trading close to 1k and recently went down to the current floor (868 Tezos). Keep in mind there are different modes in this collection; some modes were developed by Zach and others by Iskra. Those seem to affect the pricing, and it is worth reviewing those in detail before grabbing one piece.
As I mentioned earlier, August seems to be a down month for NFTs and Tezos. It could be because summer and more people are spending time outdoors. Last year we saw the lowest month in terms of volume on Tezos and a massive increase right after in September. It would be interesting to see if the pattern repeats. Remember, NFTs (specially fxHash) seem to move in cycles, and we are in a down cycle. It is impossible to know how long it will last, so we can just try to make the best of it.
If the low volume pattern continues and floors keep going down, it might be a good idea to make a list of pieces/collections to target. The downtrend + sending offers below floor value by 30% to 20% could get you some solid deals.
Until next time,
- Kaloh