© Reuters Queen Elizabeth II NFTs flood the OpenSea market
Following the death of Queen Elizabeth II in the UK on Thursday, more than 40 new Queen-related tokens and hundreds of similar non-fungible tokens (NFTs) hit the crypto market.
Since the news broke, new tokens have been launched on several decentralized exchanges on the Binance Smart Chain (BSC) and with names including Queen Elizabeth Inu, Save the Queen, Queen, QueenDoge, London Bridge is Down, and Rip Queen Elizabeth.
On the OpenSea NFT marketplace, thousands of NFTs have been listed since the announcement, including photographs of Queen Elizabeth. For example, the RIP project The Queen Official was born in a few hours, with more than 8,000 digital works. Buyers of this particular coin have several variations of images of the queen to choose from.
According to data from Dex Screener, the Queen Elizabeth Inu token on BSC-based PancakeSwap has since seen the biggest gain in price value in 24 hours, surging a whopping 28,506% to $0.00008000.
However, its 24-hour trading volume worth $391,000 is dwarfed by that of the Elizabeth token, which recorded trading volume worth $2.7 million in less than 12 hours. . The asset also saw a massive increase of 8,442% to settle at $0.059931.
Queen Elizabeth Inu and Elizabeth have just $17,000 and $204,000 of cash behind them, suggesting shaky support and potential for a short-lived pump and dump, much like the infamous Squid Games token that collapsed at the end of last year.
A QueenE DAO collection also saw an increase in demand and value for its NFTs, with 10 pieces sold in the last 10 hours, nine of which were sold for over $1,000. The last NFT selloff before this selloff was 23 days ago at US$99.84.
QueenE DAO’s (NYSE:) Twitter page read “Rest in Ethereum, forever,” as several users of “London Bridge Has Fallen” to “wear Queen Elizabeth’s dress and hat in her memory” took to Twitter to pay their respects.
Continue Reading on BTC Peers