This Pandora NFT Has Just Sold For Nearly $1.4M – Has The NFT Bull Market Arrived?

Updated: 16 February 2024

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

The market hype around the non-fungible token collections and crypto assets has started building up, with several NFTs selling for an eye-staggering amount of funds recently. The Pandora #53041 NFT is a recent testament, selling for over $1.3 million just a few hours ago.

Pandora #53041 Sells For Nearly $1.4M

Data compiled by Cryptoslam.io, an on-chain market aggregator, confirms that Pandora #53041 sold for $1,383,899 just a few hours ago. The Pandora NFT mega sale has renewed hope among the crypto community over a potential market bull run in the coming weeks or months. The last time NFTs started selling for millions of dollars was two years ago, during the historic 2021-2022 NFT Bull Run.

Launched earlier this month, Pandora is a non-fungible token collection created on the Ethereum blockchain network using the newly launched ERC- 404 token standard. The ERC-404 protocol is an experimental token standard between the renowned ERC-20 and ERC-721, similar to the popular ERC-20 and BRC-20 protocols.

Pandora, an NFT collection featuring a limited edition of 10,000 replicant NFTs, continues to gain traction among collectors and traders. In the past 24 hours, the Pandora NFT collection has amassed a trading sales volume of $5.2 million. The Pandora NFT sales have surged 25%.

NFT Sales Jump11% Today

The Pandora NFT mega sale and other top sales have pushed the global NFT trading sales volume up 11% from the previous day. In the past 24 hours, the global NFT market has amassed a trading sales volume of $36 million. The number of traders buying and selling NFTs has also risen 10% today.

During this period, Ethereum, the most adopted NFT blockchain network, is the most traded blockchain network in the NFT ecosystem. In the past 24 hours, the Ethereum-based NFTs collection has amassed a trading sales volume of $18.8 million. The Ethereum NFT sales volume has surged 9.9%.

Source: Cryptoslam.io, NFT sales

Bitcoin and Solana blockchain networks have recorded some surge in the NFT market today. In the past 24 hours, Bitcoin-based NFTs have attracted a trading sales volume of 5.4 million, while the Solana NFTs have raised a trading sales volume of $7.1 million. The recent NFT market rise shows massive hope for the potential market bull bun in the coming weeks.