The crypto market is facing significant turmoil as a new report finds that 96% of all non-fungible tokens (NFTs) have been deemed 'dead'. The struggling NFT market is grappling with issues of speculation and a lack of real-world utility. "This is a sobering statistic for the NFT space, which has been touted as the next big thing in the crypto industry," said the report's author.

In another blow to the crypto ecosystem, Bitcoin exchange-traded funds (ETFs) have seen over $1 billion in outflows over the past 8 days. "Investors are pulling back from Bitcoin ETFs, likely due to the overall bearish sentiment in the market," commented a senior analyst. This comes as chatter around an 'altcoin season' heats up, but an industry index suggests that the highly anticipated event is still far off.

Meanwhile, a Solana whale with a $66 million SOL portfolio has made headlines by selling off 20% of their holdings to buy into the promising Ethereum-based token ETFSwap (ETFS) during its viral ICO. The move highlights the continued interest in alternative Layer 1 blockchain projects, even as the broader crypto market struggles.

Source: https://crypto.aabeyllc.com/solana-whale-holding-66000000-sells-off-20-to-buy-promising-ethereum-token-etfswap-at-0-01831/

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