CoinGecko NFT Market Report, Q1 2024

According to the CoinGecko Q1 2024 NFT Report, the non-fungible token market experienced mainstream adoption this year, with sales growing positively in Q1 2024. In this article, we will take an in-depth look at this amazing Q1 2024 analysis report.

CoinGecko Q1 2024 Crypto Industry Report is now live 📊

After a strong fourth quarter of 2023, the overall cryptocurrency market cap rose 65% in the first quarter of 2024, reaching a peak of $2.9 trillion in March.

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Non-fungible token trading sales volume across the top 10 NFT marketplace platforms exceeded $4.7 billion, according to data compiled by coingecko.com, an on-chain cryptocurrency marketplace aggregator and multi-chain non-fungible token explorer. Magic Eden, the largest multi-chain NFT marketplace, holds the largest share. Below we list 10 NFT market platforms by trading volume.

Source: coinecko.com, Top 10 NFT Marketplaces, Q1 2024

1. Magic Eden NFT Marketplace

Magic Eden was the most traded NFT marketplace in Q1 2024. The NFT market platform recorded $163 million in January, $256 million in February, and $756 million in March. Magic Eden recorded over $1.7 billion in transaction revenue in its first three months.

2. Cloudy the NFT market platform.

Blur was the second most traded NFT marketplace in the first quarter of 2024. According to a coingecko.com report, the Blur NFT marketplace valued $500 million in January, $502 million in February, and $500 million in March. It recorded transaction sales of $300 million. In the past three months, NFT marketplaces have recorded over $1.5 billion in transaction sales.

3. OKX NFT Marketplace

OKX, the non-fungible token marketplace of cryptocurrency exchange OKX, was the third most traded NFT marketplace in the first quarter of 2024. The OKX NFT marketplace recorded transaction sales of $262 million in January, $143 million in February, and $182 million in transaction volume. The OKX NFT marketplace has recorded over $588 million in the past three months.

OKX NFT Marketplace, which dominated Bitcoin NFT trading volume in 2023, saw its trading volume decrease by -73.3% from $680 million in December 2023 to $180 million in March 2024. Bitcoin’s NFT trading volume has shifted to other NFT platforms such as Magic Eden. UniSat. OKX’s market share reached 9.5% in March 2024.

4. Tensor NFT Marketplace

Tensor was the fourth most traded NFT market platform in Q1 2024. According to the study, NFT marketplace Tensor recorded transaction sales of $184 million in January, $166 million in February, and $134 million in March. In three months, Tensor recorded $484 million in transaction sales.

5. OpenSea NFT Marketplace

OpenSea was the 5th most traded NFT marketplace in Q1 2024. According to the analyst report, NFT marketplaces recorded transaction sales of $146 million in January, $149 million in February, and $161 million in March 2024. In the past three months, more than $457 million has been transacted on the OpenSea NFT marketplace.

6. UniSat NFT Marketplace

UniSat was the 6th most traded NFT marketplace in the first quarter of this year (Q1 2024). UniSat recorded transaction sales of $14 million in January, $52 million in February, and $73 million in March. In three months, the UniSat NFT marketplace recorded over $139 million in transaction sales.

7. CryptoPunks NFT Marketplace

CryptoPunks was the 7th most traded NFT marketplace platform in Q1 2024. According to coinecko.com’s exclusive NFT report, the NFT market recorded transaction sales of $33 million in January, $21 million in February, and $59 million in March. The NFT marketplace recorded $113 million in transaction sales over the past three months.

8. MOOAR NFT Marketplace

MOOAR was the 8th most traded NFT marketplace in Q1 2024. In January 2024, the NFT marketplace recorded transaction sales of $96 million, $12 million in February, and $4.8 million in March. In three months, the Mooar NFT marketplace recorded $112 million in transaction sales.

9. X2Y2 NFT Marketplace

X2Y2 was the 9th most traded non-fungible token market platform in Q1 2024. The NFT marketplace platform recorded transaction sales of $9 million in January, $11.4 million in February, and $9.4 million in March. In three months, the X2Y2 NFT marketplace recorded approximately $29.8 million in transaction sales.

10. Ordinal Wallet NFT Marketplace

Ordinal Wallet was the 10th most traded NFT marketplace in Q1 2024. According to the analyst report, Ordinal Wallet recorded transaction sales of $9.5 million in January, $8 million in February, and $7.8 million in March 2024. In three months, Ordinal Wallet generated $25.4 million in transaction volume. Transactional sales volume across the top 10 NFT marketplaces reached $4.7 billion.

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