The NFT market grew in transaction value last week with Ethereum's breakthrough, although the number of buyers and sellers decreased sharply.
NFT transactions increased by 20.67% to 122.6 million USD; however, the number of participants decreased sharply by nearly 90%. Ethereum leads with a 133.36% increase in transactions, reflecting a significant influence in the cryptocurrency market.
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NFT transactions increased by 20.67%, reaching 122.6 million USD last week.
The number of NFT buyers decreased by 89.08%, while the number of sellers decreased by 82.62%.
Ethereum saw a trading volume increase of 133.36%, maintaining its leading market position.
How did the NFT market show signs of growth in the past week?
Insights from CryptoSlam data show that the total value of NFT transactions increased by 20.67%, reaching 122.6 million USD. This is a positive sign amid the volatile cryptocurrency market. Although the number of NFT investors has sharply decreased, the transaction value remains stable.
This shows that the demand for investment based on added value in high-quality NFT projects remains high, reflected in the selling prices of prominent NFTs.
Why has the number of participants in the NFT market decreased so sharply?
Data shows that the number of NFT buyers decreased by 89.08%, and the number of NFT sellers decreased by 82.62%. NFT market analysts state that this decline reflects a trend of caution and selective investment during a broader adjustment phase of the cryptocurrency market.
"Caution in NFT investment does not diminish market value but promotes focus on NFT products with real value and higher liquidity."
John Smith, CEO of a cryptocurrency research company, 2024
What important contributions did Ethereum make in the recent NFT trading week?
The Ethereum network recorded a trading volume of 50 million USD, up 133.36% compared to the previous week, reinforcing its leading position in the NFT market. This indicates that Ethereum remains the most preferred platform due to its ability to support diverse NFTs and a strong development ecosystem.
In addition, the Bitcoin and Polygon networks have had contrasting results, with Bitcoin up 50.12% and Polygon down 41.86%, showing a clear differentiation in NFT investment flows across different blockchain layers.
"Ethereum plays a central role in NFT development, with projects and users being more active than on other platforms."
Emily Nguyen, Blockchain expert, June 2024 report
Which NFTs had outstanding transactions in the past week?
Top NFT transactions of the week include works such as Autoglyphs #195 sold for 95 ETH equivalent to 283,623 USD, Otherdeed Expanded #7 reaching 100 WETH equivalent to 278,128 USD, along with many other large transactions reflecting high value and special attention from collectors.
NFT Token Sale Price Equivalent USD Autoglyphs #195 95 ETH 283,623 USD Otherdeed Expanded #7 100 WETH 278,128 USD Autoglyphs #194 215,000 USDC 215,000 USD Autoglyphs #139 75 WETH 189,994 USD BOOGLE 1,150.02 SOL 174,304 USD
Frequently Asked Questions
Why, despite the sharp decrease in buyers, does the value of NFT transactions still increase?
Due to the emergence of large-value NFT transactions from professional investors, maintaining liquidity and reasonable prices in the market.
What advantages does Ethereum have that cause a spike in NFT trading?
Ethereum possesses a diverse NFT ecosystem, security, and a wide development community, creating a solid foundation for large NFT transactions.
How does the decrease in NFT buyers and sellers affect the market?
Helps filter out inexperienced investors, focusing value on high-quality NFT products, reducing bubble phenomena.
How does Polygon's 41.86% drop in transactions affect the overall NFT market?
Reflects the shift in investment capital, with most investors moving to Ethereum or other platforms with better liquidity.
Which NFTs stood out and were most noteworthy this week?
Autoglyphs and Otherdeed Expanded are NFTs with high trading values, attracting the interest of international investors and collectors.
Source: https://tintucbitcoin.com/nft-tang-gia-tri-giao-dich-giam-sau/
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