Weekly NFT Activity Sees Ethereum Volume Soar Past $19.6M from 18.8K Trades

In a week of NFT frenzy, Ethereum’s NFT volume skyrocketed to an impressive $19.6 million, supported by 18,800 trades. Leading platforms Blur and OpenSea held sway, while Zora celebrated surpassing 100K users.

In a highly dynamic week for the NFT ecosystem, Ethereum’s NFT volume reached unprecedented heights, soaring to over $19.6 million with a staggering 18,800 trades, averaging approximately $1,045 per trade. This surge in activity showcases the growing interest and engagement in the NFT space.

The leading NFT marketplace in terms of volume was none other than Blur, which witnessed $15.2 million in weekly sales. This impressive figure accounted for about 77.5% of the total weekly NFT volume on Ethereum. Blur’s significant dominance signifies the platform’s appeal and success in attracting NFT enthusiasts and collectors.

While Blur captured the volume spotlight, OpenSea emerged as the biggest NFT marketplace in terms of trades, with a notable 10,000 transactions, representing a remarkable 53.5% of the total weekly trades. Despite facing strong competition, OpenSea’s popularity and usability continue to draw users, solidifying its position as a go-to platform for NFT trading.

When it comes to average sale prices, OpenSea saw an average of $362 per NFT sale, which, while impressive, pales in comparison to Blur’s astonishing average of $1,996 per trade. This means that the average NFT sale on Blur was over 5.5 times higher than that of OpenSea, showcasing Blur’s focus on high-value NFT assets.

The NFT loan market also experienced a momentous week, with a total volume reaching $114 million from 2,657 unique users. An overwhelming majority, approximately 92.8% of this volume, came from Blur’s NFT lending protocol, Blend. Blend alone recorded over $106 million in weekly volume, with 2,190 unique users, averaging an impressive $48.6K per user.

NFT marketplace protocol Zora celebrated a significant achievement, surpassing 100,000 users. The platform witnessed an incredible surge, gaining over 18,000 users in a single day on July 22nd. This milestone comes after Zora’s successful fundraising round in May 2022, where it raised $50 million in a round led by Haun Ventures, whose lead partner, Katie Haun, made history as the first female general partner at Andreessen Horowitz. Other key participants in the funding round included Coinbase Ventures, Kindred Ventures, and others, boosting Zora’s valuation to an impressive $600 million.

In the Telegram Open Network (TON) ecosystem, the top 3 weekly NFTs saw a combined volume of $976,000. Leading the pack was “Telegram Usernames,” generating $410,000 in sales, followed closely by “Anonymous Telegram Numbers,” which secured $365,000 in sales. The third spot was claimed by “TON DNS Domains,” with a noteworthy $200,000 in sales. Together, these three NFTs witnessed a total of 6,178 sales, highlighting the continued interest and demand for NFTs in the TON ecosystem.

The weekly NFT activity on Ethereum showcased not only remarkable trading volumes but also the growing diversity and appeal of NFTs across various platforms and ecosystems. As the NFT space continues to evolve, enthusiasts and investors eagerly anticipate what future weeks will bring in terms of innovation, adoption, and record-breaking milestones.


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