Ethereum NFT Market Shifts Trading Patterns, Remains Strong

The Ethereum NFT market has been on the rise in recent weeks, with weekly trading volume reaching over $150 million in the past six weeks. This is an impressive feat, considering the number of transactions, which stood at 2.9 million, and the average transaction value, which was $397. The market also saw a significant number of traders, with over 919,000 traders participating in the market.

However, since January 2022, the market has seen a shift in trading patterns among traders. Despite the high trading volume, there has been a significant decrease in both the volume per transaction and volume per trader. The volume per transaction has decreased by 81%, while the volume per trader has decreased by 77%.

Despite this, there has been an increase in the number of transactions per trader, with an average of 17.7% more transactions per trader. This suggests that while there may be fewer large transactions taking place, there is still a high level of activity in the market.

To gain further insights into the future of the NFT space, we recently reached out to six industry players for their thoughts on the market. They shared their predictions on the future of the NFT market and how they see the market evolving in the coming years.

Overall, the Ethereum NFT market continues to be a vital and dynamic market, with a large number of traders participating and a high level of activity. Despite some changes in trading patterns, the market remains strong and continues to be a popular choice for traders looking to buy and sell NFTs.

Follow our On-Chain NFTs section to get daily NFT insights you won’t get anywhere else.

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