Significant Growth in NFT Trading Volumes
According to a recent report by PANews, the period from December 7 to December 14 saw a remarkable increase in NFT trading volumes across 22 different blockchains. The overall trading volume rose by 16.27%, reaching an impressive total of $224.41 million.
Ethereum Dominates the NFT Market
Ethereum continues to lead the NFT market, accounting for over $119 million in transactions. This figure marks a significant growth of 22% compared to the previous week, underscoring Ethereum's dominance in the space.
Bitcoin and Solana Follow Suit
Following Ethereum, Bitcoin's NFTs accumulated $51.64 million, indicating a week-on-week growth of 14.31%. Meanwhile, Solana recorded a trading volume of $21.44 million, reflecting a substantial increase of 32% in the same period.
BNB Chain and Blast Experience Surges
The BNB Chain has experienced a phenomenal surge in trading volumes, reporting a dramatic week-on-week increase of 368%. Additionally, Blast also saw a substantial rise, with volume increasing by 262%.
Popular NFT Collections
A standout performer among NFT collections is the Ethereum-based Pudgy Penguins, which recorded an impressive 52% increase in trading volume from the previous week. This highlights the growing interest and activity in specific NFT collections and the overall market.
Conclusion: A Thriving NFT Market
This data reflects the increasing interest and engagement in the NFT market across various blockchain platforms, showcasing a healthy ecosystem ripe for investment and innovation.
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