Ethereum NFT Market Records $316M in Volume During First Week of April

Ordinals hits 1M Bitcoin NFTs milestone, y00ts migration to Polygon results in $5M in secondary sales, while Ethereum NFT market hits $316M in April’s first week
1 Million Bitcoin NFTs, $5M in y00ts sales on Polygon, and Ethereum NFT market sees $316M in April's first week

The Ethereum NFT market has witnessed a staggering $316,472,596 in volume during the first week of April, from a total of 449K trades. The highest volume in a single day was recorded on April 2nd, with $59,312,034 traded in a single day, and the highest number of trades occurred on April 5th, with 84,965 trades.

Among the top NFT marketplaces, Blur dominated the scene, accounting for 69.8% of the total volume ($220M) and 41.4% of the total trades (186K), with an average trade value of $1,233. OpenSea followed with 20% of the total volume ($63M) and 43.9% of the total trades (197K), averaging $322 per trade. Gem accounted for 3.3% of the total volume ($10M) and 9.8% of the total trades (44K), with an average trade value of $237.

Bitcoin Ordinals

Over 1 million Ordinals have been inscribed into the Bitcoin blockchain, resulting in network fees totaling $4,690,971, with an average fee of $4.67 per inscription (0.00017BTC).

Ordinals are being actively traded across various marketplaces, with a total volume of $19M, made in 51,612 trades, averaging $369 per trade. The largest marketplace for Ordinals by volume was the Ordinals market, with over $8.1M in volume, followed by the Ordinals wallet with $3.59M, recently launched Bitcoin NFT marketplace on Magic Eden, now saw with $3.54M, and Ordswap with $3.3M in volume.

The Migration of y00ts to the Polygon Blockahin

Since the beginning of the migration of y00ts to Polygon on March 28th, a total of 12,490 y00ts, which account for 83% of the total collection, have been migrated to Polygon, and are currently held by 5,482 holders.

The secondary sales of y00ts on Polygon have generated over $5M in volume from 1,114 sales, averaging $4,536 per sale.

The NFT market continues to thrive, with significant volumes and trades recorded across various platforms, and blockchain-based collectibles gaining momentum with inscribed Ordinals and y00ts generating substantial secondary sales. As the NFT space evolves, it continues to draw attention from investors, collectors, and enthusiasts alike.


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