In November 2023, the trading volume in the NFT sector reached $994 million, exceeding October's figures by 125%. These data are presented in the report by DappRadar experts.
It is also noted that the number of transactions increased by 5%, reaching $3.67 million. Project representatives pointed out that the growth of these indicators indicates a change in traders' strategies and their preference for more expensive tokens.
NFT Sector Trading and Sales Volume.
These changes also confirm an increase in the average transaction size from $126 to $270, representing a growth of 114%. Furthermore, comparing the data with September 2023, it can be seen that the trading volume in the sector has tripled.
Experts from DappRadar note that this trend can be partially explained by overall bullish sentiments in the crypto market. In such conditions, capital often shifts from coins to NFTs, as indicated in the report.
This trend is most noticeable in collections in the "blue-chip" category, where the growth ranges from 2.7% to 2703%.
Changes in the Token Threshold Value for 'Blue-Chip' Collections.
However, it is worth noting that the positive movement has mainly affected large projects, while small collections continue to experience weakness.
Leading in trading volume among platforms is Blur with a volume of $375 million, representing a 105% increase in a month. In second place is OKX with a volume of $318 million, which represents a growth of 3606%.
NFT Marketplace Ranking.
It should be noted that due to significant growth in November, OKX's position is approaching leadership in the ranking, with only 3% less market share compared to Blur. According to experts, this impressive growth is mainly attributed to Ordinals' offering.
In other sources, it is indicated that Blur's share in the NFT sector is 80%, with trading volume in November reaching $605.65 million. The possible difference in the figures may be due to different calculation methodologies.
