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Cryptoknowmics 2022-05-18 14:30:31

Whipsaw Market’s Movement and NFT Traders – The Result of This Combo

Although Web3’s total sales dropped significantly a couple of days ago, different investors from everywhere are still bombarding the platform. The total market cap of NFTs increased to over $19.4 billion in May 2022, with over $1.2 billion in NFTs traded in recent time. People are also quick to question a project’s viability. As a result, NFT investors carry out their research based on the roadmaps, projections, and announcements that the team shares. Notable projects and NFTs with blue-chip status, such as Axie Infinity, Bored Ape Yacht Club (BAYC), and Cool Cats’ Cool Pets, strayed from their intended path, making their users unhappy. Although the Bored Ape Yacht Club (BAYC) strategy was successful, investors should be aware that investing in a company based on the promise of a track record can lead to disappointment. The Unpredictability of Growing Pains It’s thrilling to come across a project that appears to be top-notch. There is a possibility that the project meets all requirements, and the team proves that they built a functional product. A strong community will cause every member to believe in the project, especially if it has a good track record. As a result, investors will be confident they have found a project into which they can pour their investment. However, none of these is sure paths to success. Understanding the difference between “good” and “bad” problems is essential because unanticipated events that cause l...

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