- Ethereum’s monthly NFT sales hit the highest in 10 months.
- Regular NFT market capitalization has increased by double digits over the past month.
Monthly sales of non-fungible tokens (NFTs) on the Ethereum (ETH) network have surpassed $430 million, the highest in 10 months. Cryptoslam.
Over the past 23 days, NFT sales on the proof-of-stake network totaled $433 million, up 22% from January’s record sales of $355 million.
The last time monthly NFT sales on the Ethereum network exceeded $400 million was in April 2023, according to the data provider.
Source: CryptoSlam
As of this month, registered sales volume totaled 677,456 transactions, with 98,000 net sellers and 118,371 net buyers.
Interestingly, the total number of NFT transactions recorded over the past 23 days is down 27% compared to the 929,155 total transactions completed in January.
Nonetheless, with five days left until the end of the month, on-chain data shows February sales exceeding January sales by double digits.
Blur is in charge
Blur (BLUR) has seen the highest trading activity among all existing NFT marketplaces over the past 30 days.
According to DappRadarThe NFT marketplace and aggregator continues to maintain its position as the leading protocol in terms of sales volume, despite recording a double-digit decline last month.
AMBCrypto saw trading volume on the platform plummet 21% over the past 30 days, totaling $601 million. This is despite a 6% increase in the number of NFT transactions and a 14% increase in the number of traders using the protocol.
Leading NFT marketplace OpenSea saw a 5% increase in trading volume over the period under review, while sales fell by 83% compared to Blur. According to DappRadar, OpenSea had $105 million in NFT sales last month.
General market status
In line with how the general NFT ecosystem has fared over the past month, highly regarded collections tracked by the Blue Chip Index have soared in value.
According to NFTGo, this metric tracks the performance of Blue Chip NFTs and is calculated by weighting the market capitalization of these NFTs to determine performance. At 5832 ETH at press time, the blue chip index is up 16% since the beginning of the year.
Source: NFTGo
After evaluating the performance of all NFT collections, we found that sales decreased by 6% last month. But despite this, regular NFT market capitalization increased 17% during that period, according to NFTGo data.