ARTSPLIT Market Roundup (1st Feb — 14th Feb 2023)
It was a bullish bi-weekly performance on the ARTSPLIT marketplace to start the month of February 2023. The marketplace posted a 11.62% gain, with its market capitalization gaining $405,000 from $3.485 million in the last two weeks to end the week and year with a market capitalization of $3.890 million. The gain in the market seen during the last two weeks was majorly attributable to the gains seen on some artworks and the addition of King Perryy’s EP on MusicSplit.
In the last two weeks, we saw the market record a total volume of 4,842 SPLITS from 38 Artworks of the 53 currently listed on the ARTSPLIT platform. A majority of the volume came from Ablade Glover, who accounted for 1,310 SPLITS, representing 27.06% of the total volume that was traded in the last two weeks. The least came from Kofi Agorsor, who accounted for only 1 SPLIT, representing 0.02%.
Diving in deeper into these figures, as previously mentioned, Ablade Glover’s “Prayer,” accounted for the most volume seen in the last two weeks, representing 1,205 SPLITS or 24.89% of the total volume seen. This is followed by Akinola Lasekan’s “Ijo Ibile,” and Abayomi Barber’s “Park,” which both accounted for 1,139 and 811 SPLITS, representing 23.52% and 16.75% of the total volume respectively.
On the value side, a total of $1,687.14 was traded in the last two weeks under review. A majority of the value came from Akinola Lasekan, who accounted for $607.85 representing 36.03% of the total value of transaction seen on the platform in the last two weeks in question. The least came from Rufus Ogundele who accounted for just $0.12.
Diving in deeper, as previously mentioned, Akinola Lasekan’s “Ijo Ibile,” accounted for the most value of transactions seen in the last two weeks, accounting for $603.76 representing 35.79%. This is followed by Ablade Glover’s “Prayer,” and Ben Enwonwu’s “Nnamdi Azikiwe,” which both accounted for $299.25 and $198.32, representing 17.74% and 11.76% of the total value respectively.
On the gainer’s chart, we saw eight artwork post gains during the weeks under review. The chart was led by an artwork by Abayomi Barber’s “Memories Of The Sun I, Ii, And Iii,” which posted gains of 100.00% in the last two weeks, as it started trading at $0.12 per SPLIT to end trading at $0.24 per SPLIT. The artwork was responsible for adding $12,000 to the market capitalization.
On the loser’s chart, we also saw only one artwork post losses during the weeks under review. The chart was led by Ablade Glover’s “Confrontation,” which posted losses of 8.33% in the last two weeks, as it started trading at $0.12 per SPLIT to end trading at $0.11 per SPLIT. The artwork was responsible for losing $1,000 of the market capitalization.
Although the market ended up bullish, its market breathe, however, ended bearish, where the sellers accounted for most of the transactions seen in the last two weeks, representing $1,484.41 with a volume of 4,036 SPLITS. This means the sellers accounted for 87.98% of the total value of transactions and 83.35% of the total volume of transactions. There was no activity on the lease side as all artworks ended the week flat.
