{"id":624388,"date":"2025-02-05T16:12:07","date_gmt":"2025-02-05T16:12:07","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=624388"},"modified":"2025-02-05T16:12:07","modified_gmt":"2025-02-05T16:12:07","slug":"daily-nft-sales-plunge-amid-us-tariffs-and-token-burnouts","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/daily-nft-sales-plunge-amid-us-tariffs-and-token-burnouts","title":{"rendered":"Daily NFT Sales Plunge Amid US Tariffs And Token Burnouts"},"content":{"rendered":"<p>The non-fungible token market has plummeted in trading sales volume and floor price value this week, recording less than $20 million in daily sales volume several times since November. In the past seven days, most NFT floor prices have flipped over 10%. This market downturn is associated with the recent intense market volatility fueled by Donald Trump&rsquo;s high tariffs against Canada, Mexico and China.<\/p>\n<h2>Daily NFT Sales Fall Below $20 Million<\/h2>\n<p>Earlier this week, the Donald Trump administration threatened tariffs against Canada, Mexico, and China, with retaliatory tariffs threatened immediately. This sent the NFT and crypto markets plummeting, with Bitcoin falling over 10% to as low as $91,000. But as quickly as the crypto market fell, the tariffs were quickly rescinded, and the market bounced back to its prior levels of over $100,000.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">US tarriffs on China&#128680;<\/p>\n<p>Our action plan:<\/p>\n<p>Charges for Dropshippers<\/p>\n<p>&ndash; A product with a cogs of 3 USD as an example:<\/p>\n<p> 4px, Yun Express and YanWen (transportation time 4-9 working days): fixed handling fee of 3 USD + 30% of the declared value (3 USD &times; 30% = 0.9 USD) = 3.9 USD<\/p>\n<p>&mdash; Mark Mulunda (@mark_fulfilll) <a href=\"https:\/\/twitter.com\/mark_fulfilll\/status\/1887145127736676789?ref_src=twsrc%5Etfw\">February 5, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Data compiled by <a href=\"https:\/\/www.cryptoslam.io\/\">Cryptoslam.io<\/a>, an on-chain crypto market aggregator and a non-fungible token explorer, shows that the global non-fungible token market has yet to heal from the recent market shake-up alongside other factors drawing its progress backwards. In the past 24 hours, the NFT market has recorded a trading sales volume of $17 million, down 2.42%. During this time, the number of investors buying NFTs has reduced by 13% to 35,812 amid market uncertainty.<\/p>\n<p><img decoding=\"async\" class=\"alignnone  wp-image-624398\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2025\/02\/Daily-NFT-sales-volume-300x90.png\" alt=\"Daily NFT sales volume\" width=\"840\" height=\"252\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2025\/02\/Daily-NFT-sales-volume-300x90.png 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2025\/02\/Daily-NFT-sales-volume-1024x307.png 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2025\/02\/Daily-NFT-sales-volume-768x230.png 768w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2025\/02\/Daily-NFT-sales-volume.png 1140w\" sizes=\"(max-width: 840px) 100vw, 840px\"><\/p>\n<p>Ethereum, the blockchain network renowned for powering most blue-chip NFT collections, is this week&rsquo;s most-traded blockchain network in the global NFT market. In the past 24 hours, the Ethereum-based NFT collections have amassed a trading sales volume of $8 million. During this time, the Ethereum NFT trading sales volume has fallen by 25% from the past day. Mythos, Base, and Solana-based NFTs are distantly following Ethereum-based NFTs, with a daily trading sales volume of less than $2.2 million.<\/p>\n<h2>Pudgy Penguins Tops The Daily NFT Market Chart<\/h2>\n<p>Pudgy Penguins, a globally acknowledged non-fungible token collection featuring a limited set of 8,888 digital items hosted on the Ethereum blockchain network, is today&rsquo;s most traded NFT collection in the NFT market. In the past 24 hours, the Pudgy Penguins NFT collection has raised a trading sales volume of $1.3 million. During this period, the Pudgy Penguins NFT trading sales volume has plummeted 36% from the previous day. The dropout is associated with the recent $PENGU token burn.<\/p>\n<p><img decoding=\"async\" class=\"alignnone  wp-image-624399\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2025\/02\/Punguins-300x64.png\" alt=\"Penguins\" width=\"844\" height=\"180\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2025\/02\/Punguins-300x64.png 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2025\/02\/Punguins.png 682w\" sizes=\"(max-width: 844px) 100vw, 844px\"><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today, we burned 13.69% of the total <a href=\"https:\/\/twitter.com\/search?q=%24PENGU&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PENGU<\/a> supply upon the close of the claim. <\/p>\n<p>That is 12,164,667,616 tokens. <a href=\"https:\/\/t.co\/GMVljqFygG\">pic.twitter.com\/GMVljqFygG<\/a><\/p>\n<p>&mdash; Pudgy Penguins (@pudgypenguins) <a href=\"https:\/\/twitter.com\/pudgypenguins\/status\/1887164609133429246?ref_src=twsrc%5Etfw\">February 5, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h3>Related NFT News:<\/h3>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/nft-paris-2025-is-happening-next-week-heres-more-details\">NFT Paris 2025 Is Happening Next Week &ndash; Here&rsquo;s More Details<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/blur-tops-the-nft-marketplace-chart-in-january-2025\">Blur Tops The NFT Marketplace Chart In January 2025<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/nfts-sales-plunge-in-january-down-24-from-december-2024\">NFTs Sales Plunge In January, Down 24% From December 2024<\/a><\/li>\n<\/ul>\n                                        <div class=\"inContentProviderSingle inContentColor--insidebitcoins fc-row\">\n                        <div 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Box\">[&#8230;]<\/a><\/div>","protected":false},"author":1882,"featured_media":624403,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-624388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Daily NFT Sales Plunge Amid US Tariffs And Token Burnouts<\/title>\n<meta name=\"description\" content=\"The NFT market has plummeted in trading sales volume and floor price value this week, recording less than $20 million in daily sales volume.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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