In February, the trading volume of Ethereum NFT returned to above US $1 billion, the highest since last May
It is reported that according to the February data on the Ethereum chain released by Rebecca Stevens, the data researcher of The Block, the NFT trading volume on the Ethereum chain in February returned to above US $1 billion, setting the highest record since May 2022, of which Blur dominates, but the on-chain trading volume is less than half of that of last May.
Interpretation of this information:
The Ethereum chain has seen a significant increase in NFT trading volume in February 2022, as shown by the data researcher Rebecca Stevens of The Block. The volume has reportedly risen above $1 billion, which is the highest it has been since May 2022. However, while the NFT trading volume has increased, the on-chain trading volume is still less than half of what it was in May 2022.
NFTs, or non-fungible tokens, have been gaining popularity recently, with more and more people buying them as digital collectibles or as investments. This surge in demand has driven up prices, resulting in high trading volumes. The fact that the NFT trading volume on the Ethereum chain has reached a record high in February indicates that the platform is still a popular choice for buying and selling NFTs.
One thing to note, however, is that while the NFT trading volume on the Ethereum chain has increased, the on-chain trading volume has not. This suggests that more people are buying and selling NFTs off-chain, which means that the data may not be fully capturing the actual volume of NFT trading on the platform.
The dominance of Blur in the NFT market on the Ethereum chain is also worth mentioning. Blur is a platform that allows users to create, buy, and sell NFTs. Its popularity in the NFT market is evidence that it has a strong user base and that its products are in demand.
In summary, the NFT trading volume on the Ethereum chain has returned to a record high, surpassing $1 billion in February 2022. However, on-chain trading volume is significantly lower than it was in May 2022. The popularity of Blur in the NFT market on the Ethereum chain is also noteworthy.
This article and pictures are from the Internet and do not represent 96Coin's position. If you infringe, please contact us to delete:https://www.96coin.com/38766.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.