Steve Aoki Dumps SHIB, Holds BAYC NFTs
Steve Aoki Dumps SHIB, Holds BAYC NFTs
Steve Aoki dumps $30,000 worth of SHIB and ETH, but still holds 7 BAYC NFTs, now worth $13,800 each, indicating a significant loss in the NFT market.
Steve Aoki's Crypto Exit
According to recent data, Steve Aoki has sold off roughly $30,000 worth of Shiba Inu ($SHIB) and Ethereum ($ETH), transferring the proceeds to Gemini, a regulated exchange. This move suggests that the DJ and former NFT influencer is exiting the crypto market.
Losses in BAYC NFTs
Aoki still holds 7 Bored Ape Yacht Club (BAYC) NFTs, which he purchased for over $800,000 in 2021. However, the current value of these NFTs has dropped to $13,800 each, resulting in a significant loss of nearly $1 million.
Decline of NFT Market
The decline in BAYC's floor price, from its all-time high to the current $13,800, mirrors the broader NFT market's 90%+ decline since the bull run. Trading volumes have also decreased, from billions to low millions monthly.
Why Old NFT Narratives Struggle
According to waleswoosh, a well-known CT personality, old NFT metas struggle to recover due to the loss of the illusion of endless upside. Once the illusion is broken, it's almost impossible to recreate it, leading to a shift in psychology from excitement to exit liquidity.
Key Takeaways
- Steve Aoki has sold $30,000 worth of SHIB and ETH, indicating a crypto exit.
- Aoki still holds 7 BAYC NFTs, now worth $13,800 each, resulting in a significant loss.
- The NFT market has declined by 90%+ since the bull run, with trading volumes decreasing.
- Old NFT metas struggle to recover due to the loss of the illusion of endless upside.
Frequently Asked Questions
What is the current value of Steve Aoki's BAYC NFTs?
The current value of Aoki's 7 BAYC NFTs is $13,800 each, resulting in a significant loss from their original purchase price.
Why is the NFT market declining?
The NFT market is declining due to the loss of the illusion of endless upside, leading to a shift in psychology from excitement to exit liquidity, and a decrease in trading volumes.
