NFT Sales Defy Recent Downtrend
NFT sales have seen a 3.74% increase compared to the previous week, reaching a total of $236,234,800 over the past seven days. This recent surge goes against the trend of declining NFT sales in the previous weeks.
Top-performing NFT Collections
The standout NFT collection in terms of sales this week is Bitcoin's "Uncategorized Ordinals," which generated $12 million in sales, marking an impressive 36.90% increase from the previous week. Solana's "Froganas" collection also performed well, accumulating $7.79 million in sales, reflecting a 22.95% gain since the prior week. Avalanche's "Dokyo" collection recorded sales of $7.74 million, representing a 30.39% increase week over week.
Other notable NFT collections include the "Gods Unchained" card compilation on Immutable X and Mythos' "Dmarket" NFT collection. Both collections experienced increases in NFT sales, rising by 25.51% and 27.27%, respectively.
Ethereum Leads in Sales
When it comes to blockchain dominance in NFT sales, Ethereum took the lead this week with $76.74 million in sales, showing a solid 2.3% increase compared to the previous week. Bitcoin followed closely, claiming the second position with $63.93 million in sales, demonstrating a substantial 16.66% growth since the previous week.
Solana, although still performing well, secured the third rank with sales totaling $49.23 million, experiencing a slight 8.9% decline. In terms of notable blockchain gainers, Arbitrum made a significant leap with a 108.51% increase, while BNB Chain exhibited an 89.61% jump in its NFT sales performance this week.
Top-priced NFT Sales
The highest-priced NFT sale of the week goes to "Cryptopunk #5363," which fetched a staggering $1.53 million just three days ago. Other notable sales include the NFT titled "geth locked deposit" on Arbitrum, which sold for $344,075, and Solana's "Boogle #083," which found a new owner for $253,422. The Axie Infinity collection also had valuable NFTs sold, with "Durendal" fetching $244,275 three days ago. Bitcoin's "Punk #60" achieved a sale price of $169,266, making it one of the top five priciest NFTs of the week.
What are your thoughts on this week's NFT sales action? Feel free to share your opinions in the comments section below.
Frequently Asked Questions
How Do You Make a Withdrawal from a Precious Metal IRA?
First, you must decide if you wish to withdraw money from your IRA account. Next, ensure you have enough cash on hand to pay any penalties or fees that could be associated with withdrawing funds.
If you are willing to pay a penalty for early withdrawal, you should consider opening a taxable brokerage account instead of an IRA. If you choose this option, you’ll also need to consider taxes owed on the amount withdrawn.
Next, you need to determine how much money is going to be taken out from your IRA. This calculation is dependent on several factors like your age when you take the money out, how long you have had the account, and whether or not your plan to continue contributing.
Once you know how much of your total savings to convert to cash, it’s time to choose the type of IRA that you want. Traditional IRAs allow you to withdraw funds tax-free when you turn 59 1/2 while Roth IRAs charge income taxes upfront but let you access those earnings later without paying additional taxes.
Finally, you’ll need to open a brokerage account once these calculations are completed. To encourage customers to open accounts, brokers often offer signup bonuses and promotions. It is better to open an account with a debit than a creditcard in order to avoid any unnecessary fees.
When you finally get around to making withdrawals from your precious metal IRA, you’ll need a safe place where you can store your coins. While some storage facilities accept bullion bars and others require that you purchase individual coins, others will allow you to store your coins in their own safe. You’ll have to weigh the pros of each option before you make a decision.
Bullion bars, for example, require less space as you’re not dealing with individual coins. But you will have to count each coin separately. On the flip side, storing individual coins allows you to easily track their value.
Some people prefer to keep coins safe in a vault. Others prefer to store their coins in a vault. Regardless of the method you prefer, ensure that your bullion is safe so that you can continue to enjoy its benefits for many years.
How much are gold IRA fees?
An Individual Retirement Account (IRA) fee is $6 per month. This includes the account maintenance fees and any investment costs associated with your chosen investments.
You may have to pay additional fees if you want to diversify your portfolio. The fees you pay will vary depending on the type of IRA that you choose. Some companies offer free checking accounts, but charge monthly fees to open IRA accounts.
Most providers also charge an annual management fee. These fees range from 0% to 1%. The average rate is.25% annually. These rates are often waived if a broker like TD Ameritrade is used.
Should You Buy Gold?
Gold was once considered an investment safe haven during times of economic crisis. Many people today are moving away from stocks and bonds to look at precious metals, such as gold, as a way to diversify their investments.
The trend for gold prices has been upward in recent years but they still remain low relative to other commodities like silver and oil.
Some experts believe that this could change very soon. Experts predict that gold prices will rise sharply in the wake of another global financial collapse.
They also mention that gold is becoming more popular due to its perceived worth and potential return.
These are some important things to remember if your goal is to invest in gold.
- Before you start saving money for retirement, think about whether you really need it. It is possible to save for retirement while still investing your gold savings. That said, gold does provide an additional layer of protection when you reach retirement age.
- You should also be aware of what you are getting into before you buy gold. There are many types of gold IRA accounts. Each type offers varying levels and levels of security.
- Last but not least, gold doesn’t provide the same level security as a savings account. Losing your gold coins could result in you never being able to retrieve them.
Do your research before you buy gold. Make sure to protect any gold you already own.
Do You Need to Open a Precious Metal IRA
It is essential to be aware of the fact that precious metals do not have insurance coverage before opening an IRA. There are no ways to recover the money you lost in an investment. This includes losing all your investments due to theft, fire, flood, etc.
Investing in physical gold and silver coins is the best way to protect yourself from this type of loss. These items are timeless and have a lifetime value. If you were to offer them for sale today, they would likely fetch you more than you paid when you bought them.
Consider a reputable business that offers low rates and good products when opening an IRA. It’s also wise to consider using a third-party custodian who will keep your assets safe while giving you access to them anytime.
You won’t get any returns until you retire if you open an account. Keep your eyes open for the future.
Statistics
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
