NFT Trading Volume Soars to Pre-LUNA Crash Levels: $2 Billion in February
• February NFT trading volume reached $2 billion, a 117% increase from January.
• Ethereum was the top blockchain by trading volume, with 83.36% of the market.
• Blur was the busiest marketplace in terms of trading volume, while OpenSea had the most users.
February NFT Trading Volume Surges to Pre-LUNA Crash Levels
Non-fungible token (NFT) market’s trading volume increased to $2 billion in February, reaching its pre-LUNA crash levels, according to DappRadar’s Industry Report.
Trading Volume and Sales Count
The NFT trading volume recorded a 117% spike from January’s $956 million, as the DappRadar data shows. Despite this significant surge in the NFT trading volume, the sales count recorded a 31.46% decrease, falling to 6.3 million from January’s 9.2 million.
Top Blockchains By NFT Trading Volume
In February, Ethereum (ETH) remained the top blockchain by NFT trading volume. The chain recorded $1.8 billion in trading volume, which marks a 174% increase from the $659 million in January. Based on these numbers, ETH represents 83.36% of the entire NFT market.
Blur vs OpenSea
In February, Blur triumphed over OpenSea in terms of trading volume. Blur facilitated over $1.3 billion in trading volume throughout the month, while OpenSea came second with $587 million.
Profit Chasers vs Art Lovers
Even though the difference in trading volumes points to Blur as the busiest NFT marketplace, OpenSea still holds the most significant number of users. Currently, Blur has 96 856 users as opposed to OpenSea’s 316 199.