Lowe's blockchain Ethereum ETH

Assessing how Ethereum NFTs are coping post-Merge

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ambcrypto.com

Much to the disappointment of expectations from some angles, a price uptick did not accompany the Ethereum [ETH] Merge. In some corners, the ETH NFT market should have at least brought a positive effect.

However, this has not been the case since the altcoin king switched to Proof-of-Stake (PoS).According to CryptoSlam, Ethereum NFTs were down 40.58% in the last 24 hours.

The NFT aggregator showed that buyers and transaction count had declined massively from regular levels. At press time, 11,234 buyers had been involved in 21,906 transactions.Source: CryptoSlamWhile the ETH NFT drop might not be surprising, the blue-chip collections seemed to have excelled in adopting disappointment.The 24-hour statistics on OpenSea revealed that Bored Ape Yacht Club [BAYC] had taken a 65% hit within the period mentioned.Source: OpenSeaSales of BAYC have been as low as $193,816—an incredible underperformance from a collection that regularly recorded millions of dollars pre-Merge.

Although CryptoPunks increased 239%, it could not be regarded as impressive as volume was at a relatively low 457 ETH.Ethereum Name Service [ETH], which had previously boasted of displacing BAYC, was a 33% trip down to the fourth position on the OpenSea charts.

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