The NFT market is set to face another big test as bearish headwinds continue to crash floor prices. The latest scrutiny will be confronted in a legal battle now. Former OpenSea manager, Nathaniel Chastain, recently claimed that the United States wants to set a precedent after accusing him of insider trading. Chastain’s legal team has […]
headwinds continue to crash floor prices. The latest scrutiny will be confronted in a legal battle now.
He also invested in tokens introduced by NFT creators that were yet to be sold via OpenSea. Prosecutors said Chastain chose which NFTs to feature, and sold his NFTs shortly after they were featured, typically for two to five times of what he paid. Chastain’s legal team said, There are several reasons being cited for the crash of the NFT market. Several high-profile NFT collections lost their floor prices adding to the macro-turbulences in the global financial system.What does data say?
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