Several Bored Ape NFT holders borrowed against their NFT on BendDAO. Liquidation risk has been rising because Bored Ape NFTs floor price has been falling. BendDAO cofounder also risks being liquidated on his platform. To make matters worse, BendDAO is experiencing a bank run. The so-called “NFTfi” protocol saw its Ethereum reserves drained over the weekend, meaning ETH lenders are now unable to recoup their deposits from the protocol’s reserves. Bored Ape NFTs have long been the gold standard of NFTs, a sudden supply shock with no buyers could spell doom for the entire NFT market as a whole.
#ethereum #NFT #Crypto
~MASSIVE Bored Ape NFT Liquidations! Disaster for NFT Markets~
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NFTs are such Fn trash I hate them!!! Turned the crypto market into a childish joke and YES has turned off serious financiers!!! Take dat Shit to Ebay and put it on sale for the zero it is!!!
No one in their right mind is looking at going longer than 3 years on any project now. The world is too unstable with war, natural disasters, and a global financial collapse orchestrated by the US govt and their pet bitch dogs!!! I was originally giving my investments 1year but we will be re evaluating staying in this space. My longest play was 1year and its on the chopping block with the rest of them. Crypto has had plenty of time to get its shit together and investors patience are at the breaking point. Invest in a digital crayon drawing of a monkey with an Fn joint in his mouth??? Not in MY world…… One mans trash is anothers treasure😜
pictures of cartoon apes are worthless? sell sell sell!! lol
And I was getting hate when I was saying those stupid apes were sinfully overpriced SMH
NFTs are the Future the next step will be representation of real world items, such as deeds and titles. It may be the bottom of the market, but mark my words NFTs are the future. NFTs arre the future to mainstream adoption to Crypto. Thanks for the coverage Paul
Do you think you could look into LunaOne? It's a meta-verse IPO at the moment. Launch is "September 29" .
Ever heard of moonbeam? THoughts?
VEVE will collapse if it dosent adopt interoperability.
Yo hey, i really like your channel. Good luck on your journey!
"Oh no my overpriced jpeg of an ugly ape that has absolutely no utility is falling downnnn please tell me what is going on?!?!"
Who in their right mind would buy disgusting apes with zero use, which is created by lazy “artists” who just add a hat or cigar on a copy-pasted trash jpegs? That crap is going to (or close to) zero, anyone who believes otherwise is just in his denial phase and don’t wanna accept they spent money stupidly. Those apes (and other crappy jpegs like crypto punks) are just toxic for REAL USE CASE NFTs’ reputation. Goes to show how low IQ humans can be.
charlatan art market
Put up their BAYC as collateral for ETH and then staked their ETH on LIDO for stETH? Maybe?
Everyone is getting out of the market
If I have to choose between using my ETH to buy a discounted Ape with the promise of some future return or hodl my ETH for the merge…. I think some Apes may not get bought at auction.
Lol, leverage everywhere.
BAYC – art ? rare ? high quality ? secure ? valuable ? social conscionable ? empathetic ? Non of the above – worthless, completely without basis for holding or investing in. Baaaaaaa
Knew this would happen and Metaverse will go the same way.
This is a good thing, all this trash needs to be cleared out to make way for newer shiny er trash.
"Make sure and"……..
you make story of NFT jpegs, come on, these are rug pulls, make some common sense
NFTs like art and real estate are not as liquid and as a result tends to lag behind other markets. This has all the makings of yet another death spiral crisis and is needed to pop the bubble.
I didn’t even know nft liquidisations were a thing lol
Imagine using the phrase ‘my nft collection’…
Just the fact that there are thousands make them less worth, pure logic…
People were buying stupid shit last year because they had disposable income, but now people are needing their money in order to live. So, you are seeing the real value of NFTs come to light. Why would anyone buy in hopes of a correction when the correction is ZERO
The nfts have no value and they are artificially traded by millionaires to raise the value of them
The Greater Fool Theory in action.
Can't wait to pick one up for 99% off
These companies have no idea what they are doing. They are literally winging it as they go and hoping for the best. Either that or they are outright scammers who know exactly what they are doing.