ARTSPLIT Market Roundup (1st March— 15th March 2023)
It was a bearish bi-weekly performance on the ARTSPLIT marketplace to start the month of March 2023. The marketplace posted a 0.52% loss, with its market capitalization losing $20,000 from $3.85 million in the last two weeks to end the week and year with a market capitalization of $3.83 million. The loss in the market seen during the last two weeks was majorly attributable to the declines seen on Uzo Egonu’s “Women Gathering.”
In the last two weeks, we saw the market record a total volume of 1,790 SPLITS from 24 Artworks of the 53 currently listed on the ARTSPLIT platform. A majority of the volume came from Ben Enwonwu, who accounted for 984 SPLITS, representing 54.97% of the total volume that was traded in the last two weeks. The least came from Edosa Ogiugo, who accounted for only 1 SPLIT, representing 0.06%.
Diving in deeper into these figures, as previously mentioned, Ben Enwonwu’s “Ogolo In Motion,” accounted for the most volume seen in the last two weeks, representing 981 SPLITS or 54.81% of the total volume seen. This is followed by King Perryy’s “Continental Playlist,” and El-Dragg Okwoju’s “Euphoria,” which both accounted for 293 and 92 SPLITS, representing 16.37% and 5.14% of the total volume respectively.
On the value side, a total of $4,323.86 was traded in the last two weeks under review. A majority of the value came from Ben Enwonwu, who accounted for $2,986.43 representing 69.07% of the total value of transaction seen on the platform in the last two weeks in question. The least came from Bruce Onobrakpeya who accounted for just $0.08.
Diving in deeper, as previously mentioned, Ben Enwonwu’s “Ogolo In Motion,” accounted for the most value of transactions seen in the last two weeks, accounting for $2,985.01 representing 69.04%. This is followed by King Perryy’s “Continental Playlist,” and Yusuf Grillo’s “Eyo,” which both accounted for $1,162.03 and $88.75, representing 26.88% and 2.05% of the total value respectively.
On the gainer’s chart, we saw only one artwork post gains during the weeks under review. The chart was led by an artwork by King Perryy’s “Continental Playlist,” which posted gains of 0.51% in the last two weeks, as it started trading at $3.93 per SPLIT to end trading at $3.95 per SPLIT. The artwork was responsible for adding $2,000 to the market capitalization.
On the loser’s chart, we also saw one artwork post losses during the weeks under review. The chart was led by Uzo Egonu’s “Women Gathering,” which posted losses of 18.64% in the last two weeks, as it started trading at $1.18 per SPLIT to end trading at $0.96 per SPLIT. The artwork was responsible for losing $22,000 of the market capitalization.
As with the market ending up bearish, so did its market breathe, where the sellers accounted for most of the transactions seen in the last two weeks, representing $4,118.19 with a volume of 1,575 SPLITS. This means the sellers accounted for 95.24% of the total value of transactions and 87.99% of the total volume of transactions. There was no activity on the lease side as all artworks ended the week flat.
