ARTSPLIT Trade Round up (16th Jan — 31st Jan)
It was a bullish bi-weekly performance on the ARTSPLIT marketplace to end the month of January 2023. The marketplace posted a 0.84% gain, with its market capitalization gaining $29,000 from $3.470 million in the last two weeks to end the week and year with a market capitalization of $3.499 million. The gain in the market seen during the last two weeks was majorly attributable to the gains seen on an artwork by Abayomi Barber and the addition of new artworks onto the ARTSPLIT marketplace.
In the last two weeks, we saw the market record a total volume of 503 SPLITS from 20 Artworks of the 51 currently listed on the ARTSPLIT platform. A majority of the volume came from Akinola Lasekan, who accounted for 246 SPLITS, representing 48.91% of the total volume that was traded in the last two weeks. The least came from Uzo Egonu, who accounted for only 1 SPLIT, representing 0.20%.
Diving in deeper into these figures, as previously mentioned, Akinola Lasekan’s “Ijo Ibile,” accounted for the most volume seen in the last two weeks, representing 246 SPLITS or 48.91% of the total volume seen. This is followed by an artwork by Rufus Ogundele and Bruce Onobrakpeya’s “Atete Ghwre Ighoro-o,” which both accounted for 151 and 30 SPLITS, representing 30.02% and 5.96% of the total volume respectively.
On the value side, a total of $149.63 was traded in the last two weeks under review. A majority of the value came from Akinola Lasekan, who accounted for $82.77 representing 55.32% of the total value of transaction seen on the platform in the last two weeks in question. The least came from Abiodun Olaku who accounted for just $0.13.
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 $82.77 representing 55.32%. This is followed by Ben Enwonwu’s “Fulani,” and Yusuf Grillo’s “Eyo,” which both accounted for $21.00 and $17.55, representing 14.03% and 11.73% 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 Abayomi Barber which posted gains of 56.25% in the last two weeks, as it started trading at $0.16 per SPLIT to end trading at $0.25 per SPLIT. The artwork was responsible for adding $9,000 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 Akinola Lasekan’s “Ijo Ibile,” which posted losses of 5.88% in the last two weeks, as it started trading at $0.34 per SPLIT to end trading at $0.32 per SPLIT. The artwork was responsible for losing $2,000 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 $113.51 with a volume of 303 SPLITS. This means the sellers accounted for 75.86% of the total value of transactions and 60.24% of the total volume of transactions. There was no activity on the lease side as all artworks ended the week flat.
