Why did Reddit NFT avatars sales soar? | Kalkine Media Duration: 00:02:43

 are you an investor looking for premium Market opportunities presenting premium and exclusive service for investors by calki [Music] hello I'm James president thanks for tuning in to calkine TV for the daily crypto catch users of online messaging board Reddit have created 3 million nfts which have spiked in value with collectors seeing the new avatars as a major trading opportunity secondary market sales of reddit's collectible avatars nfts have topped 1.88 million so far today this is an astonishing almost 800 percent increase from Sunday itself some of the 2.9 Million avatars in circulation were premium nfts that were purchased from the site with initial fixed price points ranging from ten dollars to one hundred dollars per unit according to data from Reddit floor about 86 000 nfts were sold to users and they now have a collective market cap of about 100 million US dollars an nft for the uninitiated is a non-fungible token which represents ownership of a unique collector's item such as art music or in this case digital avatars it's been a tough year for nfts and cryptocurrency in general as wider macro economic pressures such as soaring inflation have forced the crypto Market to lose a total of over 65 so far in 2022. moving on now to market news and Bitcoin fell by 0.56 in the past 24 hours and was recently trading at just above 19 301 US dollars meanwhile ethereum also saw a drop Falling by 1.06 percent from this time yesterday and was recently trading at 1 340 US dollars as for the altcoin space and today's winners and losers on The Winning Side of Things Clayton token grew by a 15.14 in the past 24 hours to trade at 20.3 us cents per piece while Chile's token gained 5.69 to reach 19.2 us cents over the same period on the losing side of the coin chain token dropped by a 7.36 overnight to 5.3 us cents whilst make a token fell by 4.04 to trade at just above 935 US dollars a piece all these prices are accurate as of 108 PM Sydney time according to coin market cap all right that's all for this edition of The Daily crypto catch stay tuned to calcine TV for the latest Market updates business news and exclusive interviews I'm James signing off for now