NFT prices take a gut punch as the crypto bear market deepens By Cointelegraph

Without fail, crypto has a way of humbling even the most self-assured and this market is definitely not for the faint of heart. NFT investors have entered what appears to be a bear market and the recent chaos is also impacting community morale.

The decline in NFT prices occurred as the United States Federal Reserve raised interest rates, Terra’s Luna and UST-based platforms collapsed and traders came to terms with the reality that the entire sector could be in a bear market.