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What is NFT Satoshible?
Satoshible is a collection of non-fungible NFTs built on the Ethereum (ETH) network. Satoshible launched on June 13, 2021, it has 5,000 items from the current collection and you can view it on OpenSea. Based on the information we summarized from the tradingview.com site, the total owners of Satoshibles NFTs have reached 1446 in 619 days since the release of this token collection. The market cap for Satoshible's NFT is around 1,386.42 ETH. Since its release, there have been 7,659 collectible sales with an average price of 0.26 ETH or around $428.37.
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This created a total volume of 2,024,357 ETH, with Satoshible's base price being 0.11, and the 30-day trading volume maintained at 127.93 ETH. NFTs are still very new to the blockchain ecosystem, so they are still in their infancy. It's an emerging market which means there is no history or priority that can help determine the value of an NFT.
NFT projects that started from the beginning of the market boom have gained legitimacy solely because they want to have a first-mover advantage. These projects also have the opportunity to grow and learn from the problems plaguing the NFT market. As the NFT boom happened, many people realized the profits exceeded their dreams, and created space for opportunity seekers to take advantage of the market's growth. While some NFTs are considered digital art, this provides an opportunity for artists who recognize the value that NFTs can add to the creative space, others are created purely out of greed and the need to exploit the tremendous growth of the market.
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Is Satoshible Collection Over or Underpriced?
It's hard to determine if NFTs from the Satoshibles collection are too expensive or too cheap. Making such a judgment will become clearer as the market for NFTs and the metaverse grows more active. The price is also influenced by how the Satoshibles collection is developed and promoted by the creator and its community.
Warning !
This analysis is based on fundamental and technical views from reliable sources, and is not a suggestion or invitation. Always remember that this content aims to enrich the reader's information. Always use independent research first about forex or other crypto information to use as a reference in your trading. Update other forex news through the GIC Journal every day to find out the latest updates about the world of forex to crypto. Also trade on GICTrade using an ECN account to enjoy trading with low spreads starting from zero!
