NFT trading volume on Ethereum has reached its highest level since March 2023

  • Weekly NFT trading volume on the Ethereum network is approaching its highest for the year.
  • In the period from February 4 to February 11, this figure amounted to more than $148 million.

Weekly NFT trading volume on the Ethereum network is near its highest since March 2023. In the period from February 4 to February 11, 2024, this figure amounted to $148.58 million, The Block reports.

NFT trading volume on different blockchains.  Data: The Block.
<em>NFT trading volume on different blockchains Data <em><em>The Block<em><em><em>

Analysts noted that the increase in trading volume occurs against the backdrop of an increase in the market capitalization of the collection called Pudgy Penguins. At the time of writing, it is the third collection on the Ethereum network, above only Pandora and Doodles.

Top 10 NFT collections on the Ethereum network.  Data: Cryptoslam.
<em>Top 10 NFT collections on the Ethereum network Data <em><em>Cryptoslam<em><em><em>

Let’s remember that in December 2023, we reported that the NFT marketplace Blur occupies almost 80% of the trading volume on the NFT market, while OpenSea’s share dropped to about 17%.

Also earlier, the analytical company CoinGecko presented a report on the largest blockchains in terms of NFT trading volume and summed up the results of the non-fungible tokens market for 2023.

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