Recent price increase Ethereum supported its ecosystem NFT, and their trading volume on the blockchain reached its highest level since mid-January.
According to The Block, trading volume NFT Network Ethereum amounted to $75 million over the past week, while the total trading volume in the main blockchains reached $143,5 million.
Data from The Block
Trading volume NFT on the base Ethereum significantly increased compared to two weeks earlier, when this figure was only $18,3 million. Trading volume NFTissued on the Bitcoin network also grew over the same period from $11 million to $25,6 million. Interestingly, the trading volume NFT on the base Polygon decreased slightly.
Increase in trading volume NFT coincides with the price of ETH rising from around $2525 on July 6 to the current $3806, representing a rise of almost 50%.
NFT have seen a significant drop in market share since peaking in 2021, with 2024 set to be the worst year for trading volume NFT with a decline of 18% compared to the previous year.
Issuer NFT Yuga Labs, known for its Bored Ape Yacht Club collection, sold the intellectual property in the form of the Moonbirds collections earlier this year, cryptopunks and Meebits to various buyers. Now, Yuga Labs is focusing its efforts on its immersive metaverse platform, Otherside.
Last month, the Cboe BZX exchange filed a Form 19b-4 ETF from Canary Capital, which will contain token PENGU dedicated to the collection NFT Pudgy Penguins based Ethereum. According to CryptoSlam, Pudgy Penguins has become the third largest collection NFT by trading volume last week.
Meanwhile, on Sunday, an unknown crypto whale bought 75 NFT CryptoPunk, having spent fabulous amounts of money on it.
In 5 hours 75 NFT from the collection Cryptopunks were acquired for $13,5 million.