After Merge update Ethereum (ETH) price decreases. However, some ETH-based NFT The trading volume of his collections has been on the rise this week.
Decentralized application tracking platform DappRadarhas published a new chart of weekly NFT volumes. According to the table, the volume leader of the week, Bored Ape Yacht Club (BAYC) it happened.
BAIC $6.59 million in volume last week in his collection. Renga came after the famous NFT collection.
colorwith volume very close to BAYC ($6.12m), increasing its volume by 128% compared to last week.
Third place in the ranking Gods Unchained got the collection. The collection saw an astronomical 391% increase in weekly volume.
The most popular NFT collection at the beginning of the month Ethereum Name Service (ENS)regressed to 6th place with the last week.
Is the NFT Market Reviving?
Some NFT collections saw an increase in weekly trading volume. However, when we look at the general picture, stagnation still prevails in the NFT markets. The total trading volume of Opensea, the world’s largest NFT marketplace, was announced as $81 million. Volume is down 22% from the previous week.
According to Bloomberg sources, NFT sales in August of last year were almost 7 times higher than in August 2022. Even this data alone reveals that there is still no general recovery in the NFT market.
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