- The Ethereum NFT market is booming and has exceeded $231 million in weekly trading volume.
- There has been a shift in the way NFTs are being traded and the platforms that are being used to trade them.
- The Optimism blockchain is becoming a popular platform for creating and trading NFTs.
- BendDAO NFT liquidity protocol is becoming a major player in the NFT market.
In the past couple of weeks, the NFT market saw a surge in trading volume for non-fungible tokens (NFTs) on the Ethereum blockchain. The weekly trading volume for NFTs on Ethereum has exceeded $231 million, indicating a strong and growing market for these unique digital assets.
The Ethereum NFT market is shifting in terms of trading patterns. While the overall market remains strong, there has been a shift in the types of NFTs that are being traded and the platforms that are being used to trade them.
The Optimism blockchain has seen a significant increase in NFT mints in recent months, with over 100K NFTs in a single day, indicating that it is becoming a popular platform for creating and trading these unique digital assets.
The NFT lending ecosystem has seen significant growth in recent months, with weekly borrow volume rising from $5.2 million to $23.4 million since October 2022. BendDAO has emerged as a key player in this ecosystem, accounting for 40% of the total volume and holding over 423 MAYCs and 94 Doodles NFTs as collateral. The recent deposit of 154 Bored Ape Yacht Club NFTs further solidifies BendDAO’s position as a strong player in the NFT lending market.
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