Nfts
NFT Sales Decline for Fourth Consecutive Week Amid Rising Crypto Trading Volumes – DL News
- NFT sales volume falls for the fourth consecutive week.
- Former OneCoin legal chief gets four years in prison.
- The Pantera Capital crypto fund returned 66% in the first quarter.
NFT Sales Decline Amid Skyrocketing Crypto Trading Volumes
NFT sales volume marked another week-over-week decline on Friday with a drop of nearly 14%, Bitcoin.com reported.
The fourth consecutive week of declining NFT sales stands in stark contrast to other crypto sectors’ record numbers for the month of March.
For example, the combined trading volume on centralized crypto exchanges in March nearly doubled to a record $9.1 trillion. according to has Nasdaq.com.
This is consistent with Bitcoin’s bullish surge and the build-up to the planned halving event later in April, the report said.
Yet as centralized and decentralized crypto exchanges reached peak trading volumes in March, NFT markets faltered with weekly declines.
This continued throughout the week through April 5, as six of the top blockchains in NFT sales saw declines, Bitcoin.com said, citing data from CryptoSlam.
Bitcoin NFT sales were around $67 million, down 18% from the previous. week.
Ethereum comes next with $64 million in sales, but still down 9%.
Join the community to receive our latest stories and updates
Former OneCoin legal chief gets 4 years in prison for $4 billion fraud
Irina Dilkinska, former legal and compliance manager of the infamous OneCoin scam, was sentenced to four years in prison by U.S. District Judge Edgardo Ramos for her role in the $4 billion fraud. according to in the U.S. Attorney’s Office, Southern District of New York.
Dilkinska, a Bulgarian citizen who pleaded guilty to conspiracy to commit wire fraud and conspiracy to commit money laundering, was also ordered to forfeit $111 million in restitution.
OneCoin defrauded investors by marketing and promising guaranteed returns on its own fake cryptocurrency, DL News has reported. According to prosecutors, it also resembled a pyramid scheme in that it sold “educational courses” on crypto investing and offered rewards to buyers for attracting more participants.
The Bulgarian company was founded in 2014 by Ruja Ignatova and her partner Karl Greenwood, who is currently serving a 20-year prison sentence. Ignatova disappeared in 2017, after a US federal arrest warrant was issued for her.
The FBI added Ignatova to its most wanted list list in 2022, offering a $250,000 reward for information leading to his arrest.
She travels with armed guards and may have undergone plastic surgery to alter her appearance, the notice states.
However, according to some reports, Ignatova was killed in 2018 on the orders of a member of the Bulgarian mafia.
Pantera Capital crypto fund returns 66% in Q1
Pantera Capital’s $300 million Liquid Token Fund returned 66% in the first quarter, boosted by Solana, which nearly doubled in value, Bloomberg reported.
Gains in RBN, Aevo and STX also contributed to returns, according to a letter to shareholders cited by Bloomberg.
Crypto market players
- Bitcoin is up 0.68% today at $69,388.00.
- Ethereum is up 1.05% today at $3,388.12.