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Phil Hall
Phil Hall
Jan 11, 2021
News

Record Daily Trading Volume NBA Top Shot

On Friday collectible platform NBA Top Shot had another record trading day with a total trading volume of more than 400 thousand dollars.
Record Daily Trading Volume NBA Top Shot

On Friday the sports collectible platform NBA Top Shot had another record trading day with a total trading volume of more than 400 thousand dollars. That brings the total weekly trading volume up to more than 1.2 million dollars. NBA Top Shots is expecting their volume to ramp up in the coming weeks.

"We expect the volume and action to ramp up in the coming wees, so stay tuned", they wrote in their newsletter. In total investors have put more than eight million dollars in the basketball collectibles. "And we're still only in our beta. There's a lot more coming", the team wrote confidently.

There's really quite some hype surrounding NBA Top Shot. Recently a new batch of collectibles dubbed 'Deck the Hoops' sold out within one minute. The notorious collector who goes by the name of Pranksy, has doubled down on NBA Top Shot. Over the past week he acquired two accounts, each filled with thousands of collectibles moments, for 333 thousand dollars. On Twitter he said he now holds more than 32.5 thousand moments in his collection, including plenty of rare ones.

https://twitter.com/pranksyNFT/status/1348063240140500992

NBA Top Shot stealing headlines

In the past week the digital collectible platform has made the headlines in several occasions. One moment of LeBron James sold for more than 26 thousand dollars. While another LeBron moment sold for 18 thousand dollars a few days earlier. At the same time trading volume for NBA Top Shot has been ramping up. First these numbers peaked on Tuesday, reaching 250 thousand dollars. Only to be destroyed by the volume on Friday.

However, purchases from Pranksy happened on those days. The ambitious collector basically was solely responsible for the majority of the trades. Nonetheless, interest in the blockchain-based collectible platform is heating up.

Dapper Labs has created NBA Top Shot on their own Flow blockchain. Aside from Dapper Labs own projects Cryptokitties and NBA Top Shot, there are more games coming to Flow. Among them is Chainmonsters, a Pokémon-inspired online game.

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Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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