Non-fungible tokens (NFTs) continue to gain popularity, despite the recent drop in cryptocurrency prices. According to Dune Analytics, NFT trading volume on Ethereum in the last month totaled 1.32 billion U.S. dollars, which is 19.3% lower than the previous week.
Top 3 Marketplaces by Trading Volume
The NFT trading volume represents the total amount of money spent on buying and selling NFTs over a specific period. It is calculated as the product of the number of NFTs sold during this period and the average price per NFT. The top 3 marketplaces can be highlighted based on their trading volume.
- OpenSea: 772 million U.S. dollars (58.1%)
- Blur: 300 million U.S. dollars (22.6%)
- X2Y2: 250 million U.S. dollars (19.3%)
Top 3 Marketplaces by Number of Transactions
- OpenSea: 3.2 million transactions (57.5%)
- LooksRare: 1.6 million transactions (28.1%)
- X2Y2: 1.2 million transactions (14.4%)
Top 3 Collections by Trading Volume
Top collections by trading volume are calculated based on the number of NFTs sold over a certain period and their average price:
| Collection | Trading Volume |
|---|---|
| Bored Ape Yacht Club | 300 million U.S. dollars |
| CryptoPunks | 220 million U.S. dollars |
| MutantApeYachtClub | 170 million U.S. dollars |
Token Standards Statistics
ERC-721 is a token standard used for creating unique NFTs. ERC-721 allows for the creation of tokens that are not interchangeable with each other. ERC-721 is the dominant token standard for NFTs and is used for creating most popular NFT collections.
- ERC-721: 98.6%
- ERC-1155: 1.4%
Conclusion
NFT markets continue to grow despite the recent drop in cryptocurrency prices. OpenSea remains the dominant player in the market, but competition from other marketplaces like Blur and LooksRare is increasing. Bored Ape Yacht Club remains the most popular NFT collection, but Azuki and other collections are gaining popularity. ERC-721 remains the dominant token standard for NFTs.
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