Billionaire Mark Cuban Liquidates NFT Holdings, Holds Strong in Market Shift
On-chain data from OpenSea indicates that his wallet, markcuban.eth, executed transactions for 14 NFTs.
This included the sale of Pudgy Penguins NFT #6329, fetching $30,000, and DeepBlack #92, valued at approximately $1,667 at the time of sale.
Despite these transactions, Cuban still retains a substantial collection of around 1,600 NFTs, collectively valued at over $6 million.
Cuban’s decision to liquidate part of his NFT holdings coincided with a noticeable downturn in the NFT market.
Notably, the Bored Ape Yacht Club (BAYC) NFTs saw a significant decline of 22% in value over the past month, with prices dropping to historic lows below 10 ETH.
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Data from CryptoSlam, an on-chain NFT explorer, also reveals a stark decrease in the number of unique buyers, sellers, and total sales within the same period, reflecting broader uncertainties in the digital collectibles market.
This downturn in the NFT market parallels a broader decline in the cryptocurrency space, where major assets like Bitcoin, Ethereum, and Solana have experienced substantial drops in trading volumes, each exceeding 40% over the last 30 days.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
