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In the wake of Renga’s dramatic price increase, several experts are drawing comparisons between the early days of the Bored Ape Yacht Club and the current market situation.
Renga’s Price Skyrockets by 300%
Artist DirtyRobot assembled almost ten thousand unique illustrations for his Renga. The NFTs have wider applicability in the Renga setting. Simply said, RENGA is the art of storytelling.
In only one week, the cost of the floor has tripled and shot up from 0.77ETH to 2.9 ETH. This is an increase of almost 300 percent in cost.
All You Need To Know About DirtyRobot
There might be those who have never heard of the band DirtyRobot. One of the key players is developing Crypto Kitties, which greatly enhances the team’s overall strength. DirtyRobot, the artist behind the initiative, initially created a series called “Art of Seasons,” and he used suspense to “tease out” the endeavor (NFT fans go nuts over this!).
The fact that so little is known about the project’s nature or scope at the moment also likely contributes to the price hike (as we’ve observed, uncertainty tends to drive up prices). When this article was published, a ticket to see “The Art of All Seasons” cost just 0.38 ETH. Renga’s floor price, however, is hovering around 3 ETH at the moment.
Whales Pocketed On Early Signal
NFT Signals, a prominent trading platform, correctly identified the signal early on, resulting in a large gain for traders. They employ an innovative method including examination of the whales’ wallets to find out what the whale population as a whole is purchasing. This argument is based on the assumption that whales must possess some degree of financial acumen. By using their weekly Twitterspace, they were able to spot the signal and give it a thorough assessment.
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