Overview
This bi-weekly report provides an update on the current state of the NFT market and its relationship with the recent price movements in the crypto market. The report covers various aspects of the NFT market, including trade volume, holder activity, and the performance of specific platforms such as OpenSea and Blur. Additionally, it highlights the trading activity of Solana and Polygon NFTs. The report concludes with a quick news round-up of recent developments in the NFT industry.
Main Breakdowns
1) A Slower Week That Usual For NFT Trade Volume
– Trading volume in the NFT market has slightly decreased compared to the previous week.
– Fresh investments remain low, leading to a spread of trading volume across different blockchain networks and collections.
2) Holders Holdings Are Seeing Results
– The number of NFT holders has increased by 0.29%.
– Active traders and sellers have also seen an increase.
– However, there has been a slight decrease in the number of buyers.
3) NFT OpenSea Trading Trudge
– OpenSea’s key performance indicators have been volatile, with a decrease in transactional wallets, transactions, and transaction volume.
– Smart contract balance has also seen a minor decrease.
4) Blur Activity Gains Ground
– The Blur market has shown positive trends in active wallets, transactions, and transaction volume.
– However, the smart contract balance has increased moderately.
5) Solana NFTs
– The value of Solana NFTs traded has seen a minor setback but continues to show an overall upward trend.
6) Polygon NFTs
– The average price of Polygon NFTs on OpenSea has increased, indicating a longer-term upward trend.
– OpenSea has also experienced a spike in trading activity, demonstrating its popularity as a trading venue for Polygon NFTs.
Hot Take
The NFT market has experienced a slower week in terms of trade volume, but holders are still seeing positive results. Platforms like OpenSea and Blur have shown different performance trends, with the former experiencing volatility and the latter gaining ground. Solana and Polygon NFTs have also shown resilience in their trading activity. Overall, the NFT market remains dynamic and competitive, as seen in the news round-up that highlights the successes and failures of various players in the industry.
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