A renowned collector and trader known as punk9059 on social network X shared his insights on the current state of the non-fungible token (NFT) market. He reported that over the past 24 hours, more than 13 million loans have been issued or refinanced on the Blend platform at a zero percent annual percentage yield (APY).

Punk9059 noted that the increase in the total volume of loans on Blend has raised questions among market participants. In his view, this is linked to users' desire to acquire the Blast token, specifying that most new loans are issued at 0% interest, which is only beneficial when earning points.

The expert also emphasized that in the upcoming bull market, the pursuit of 3-5% returns in Aave from ETH offerings will become irrelevant. He speculated that Blend lenders are likely to abandon their positions, even if it means only a 10-20% profit.

The expert's followers supported his view, particularly regarding tokens. They believe that the majority of loans at 0% are issued in anticipation of a future airdrop of the Blend cryptocurrency.

Punk9059 also noted that the average interest rates for Blend loans over the last two days have been around 70-80% LTV (Lifetime Value), reflecting the "lifetime value of a customer" and indicating how much money a client has brought to the platform over the entire period of interaction.

The analyst added that NFT projects with the highest trading volume on the Blur platform, such as Azuki and Mutant Ape Yacht Club (MAYC), are attracting farmers' attention and exhibit the lowest rates. Meanwhile, collections with lower ETH values face higher rates.