NFT Transactions Rising in 2023
The number of NFT transactions has increased in the last 30 days after the crypto market continues to recover during this bear run.
The market for NFTs on Ethereum and other blockchain networks has seen a significant increase in recent months. According to data from Crypto Slam, NFT sales in USD on Ethereum increased by 33% in the last 30 days. This is a significant increase. It shows that more and more people are interested in buying and selling NFTs on the Ethereum network. Furthermore, NFT transactions on Ethereum have increased by more than 50%, indicating that there is a growing demand for these digital assets. Additionally, the number of buyers of NFTs on Ethereum has increased by around 11%, which further supports the idea that the NFT market on Ethereum is growing at a rapid pace.
NFT Sales, Unique Buyers, and Unique Selles on Ethereum in the Last 12 Months. Source: Crypto Slam
One of the reasons for this growth is the increasing prices of cryptocurrencies in the last few days. Some of the NFT collections with the highest sales in Ethereum include Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Bored Ape Kennel Club (BAKC), Azuki, Otherdeed, etc. These collections have lost some of their popularity in the market during this bear run. Nonetheless, their sales have increased significantly in recent days.
NFT Transactions in Solana & Cardano
Another blockchain network that has seen significant growth in NFT transactions is Solana. According to data, NFT sales in USD on Solana increased by more than 90%. Furthermore, NFT transactions on Solana increased by around 80%. This indicates that the Solana network is quickly becoming a popular destination for NFT transactions, despite the project facing huge controversy regarding its exposure to FTX. Additionally, the collection with the highest sales volume on Solana was DeGods.
NFT Collections with the Highest Sales Volume in the Last 30 Days. Source: Crypto Slam
On the other hand, the Cardano network has experienced a decline in the number of transactions. But, the number of sales in terms of USD increased by 33%. This could indicate that while the number of transactions is decreasing, the value of the transactions is increasing. This could mean that more high-value NFTs are being sold on the Cardano network.
Top Performing Blockchains by NFT Sales Volume in the Last 30 Days. Source: Crypto Slam
Overall, the NFT market on Ethereum, Solana, and Cardano could continue to grow. The increasing popularity of NFT collectibles, the growing demand for these digital assets, and increasing crypto prices are driving this growth. As the market continues to evolve, it’s likely that we’ll see even more growth in NFT transactions on these networks in the coming months.
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Filed under: Bitcoin - @ January 22, 2023 9:35 pm