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Otherside’s NFT Drop Temporarily Turned Ethereum Into a Deflationary Asset: DappRadar Reports

After becoming the hottest trend in fintech and crypto over the past few months, the NFT space transitioned to a cooldown phase. But this trend appears to be changing as well as the latest edition of the Dapp Industry Report by Dapp Radar suggested that the market is coming back to life.
Moonbirds, Otherdeed NFT Collections, Smash Records
According to the report shared with CryptoPotato, it was the launch of two of the most anticipated collections ever has revived the sector that experienced a six-week cooldown. The first one is the NFT project Moonbrids, which broke a long list of records by generating almost $500 million in trades. As noted in the report, the strong demand for the pixelated owls fueled Moonbirds’ floor price rally past 30 ETH.
The recent Otherdeeds NFT drop, on the other hand, managed to generate $760 million in just 24-hours. However, it remained mired in controversy as high demand triggered unprecedented Ethereum fees upwards, causing chaos for the buyers. The cr

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