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According to reports, there is a consistent growth pattern in the latest developments in the NFT ecosystem, as observed by Nansen, a blockchain analytics platform. Over a span of five weeks, the trading volume in the NFT market has shown strong growth, particularly in Ethereum (ETH) transactions. The upward trend began in the week ending September 29,704, with NFT sales reaching 6 ETH. By the week ending October 68,342, this number nearly doubled, reaching 12 ETH.
This data indicates a potential revival in the NFT market, which experienced a significant decline in the previous months. The recent surge in trading volume marks the highest point since late September, rising by 10% compared to the lowest week in the market in October. This growth is in sync with the market trends of major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), indicating a broader recovery across the entire digital asset space.
The performance of the NFT market on Blur is notably better than its competitors, with a total trading volume reaching an impressive 171,926 ETH, surpassing OpenSea's 37,765 ETH. This shift in market dominance reflects the evolving preferences and dynamics in the NFT space.
Analyzing NFTGo emphasizes that the Bored Ape Yacht Club (BAYC) series had the highest trading volume among NFT series in the past month, ranking first with a total of 35,226 ETH. Other significant contributors include The Mutant Ape Yacht Club (MAYC) and The Captainz, while CryptoPunks maintain their position as the series with the highest overall market value.
Interestingly, the number of active NFT traders surged by 12% last week, while the number of NFT wallet holders remained stable at around 100,000, a figure that has changed little since October. In a somewhat unrelated update, the prominent participant in the NFT market, OpenSea, announced its launch on March 3, coinciding with news of significant layoffs, resulting in the termination of half of its workforce. |
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Post time 12-11-2023 06:09:39