NFT owners buy tokens themselves to raise their price
According to a report by Chainalysis analysts, the NFT market is simply oversaturated with investors buying tokens from themselves.
The analysts identified 262 users who were selling NFTs to self-funded addresses - that is, to themselves - and noticed that while most of these fictitious traders only made losses, the successful ones earned so much that overall this group of 262 people made huge profits.
In all, 110 traders made profits of over nearly $8, 9 million. The worst thing is that the profit was made by unsuspecting buyers who thought that the value of the NFTs they bought would increase, because they were passing from one collector to another.
