December 8, 2023

Growth in transaction volumes using new technologies in 2023

The number of NFT transactions has increased over the past 30 days after the cryptocurrency market continuedrecover during this bear run. The NFT market on Ethereum and other blockchain networks has grown significantly in recent months.

According to Crypto Slam, NFT sales inUS dollars on Ethereum are up 33% in the last 30 days. This is a significant increase. It shows that more and more people are interested in buying and selling NFTs on the Ethereum network. Moreover, the number of NFT transactions on Ethereum has increased by more than 50%, which indicates the growing demand for these digital assets. In addition, the number of Ethereum NFT buyers increased by approximately 11%, further supporting the idea that the Ethereum NFT market is growing at a rapid pace.

One of the reasons for this growth is the rise in prices for cryptocurrencies in the last few days. Some of the highest selling NFT collections on Ethereum include

  • Bored Ape Yacht Club (BAYC),
  • Mutant Ape Yacht Club (MAYC),
  • Bored Ape Kennel Club (BAKC),
  • Azuki, Otherdeed, etc.
  • These collections somewhat lost their popularity on the market during the “bear run”. However, their sales have increased significantly in recent days.

    NFT transactions in Solana and Cardano.Another blockchain network that is seeing a significant increase in NFT transactions is Solana. According to the data, US dollar NFT sales on Solana are up over 90%. In addition, NFT transactions on Solana are up about 80%. This suggests that the Solana network is quickly becoming a popular destination for NFT transactions, despite the fact that the project has generated a lot of controversy over its exposure to FTX.

    In addition, DeGods was the top-selling collection on Solana.

    On the other hand, the Cardano network has seenreduction in the number of transactions. However, the number of sales in terms of US dollars increased by 33%. This may indicate that while the number of transactions is decreasing, the value of transactions is increasing. This could mean that more high-value NFTs are being traded on the Cardano network.

    In general, the NFT market on Ethereum, Solana and Cardanomay continue to grow. The rise in popularity of collectible NFTs, the growing demand for these digital assets, and the rising price of cryptocurrencies are driving this growth. As the market continues to evolve, it is likely that we will see even more growth in NFT transactions on these networks in the coming months.