New data reveals that Ethereum-based NFTs have gained consistent upward momentum over the past year, with the trading volume reaching $54B on April.17th.
There are now a total of 80,300 NFT collections on the Ethereum blockchain, up from 15,540 year over year. Meanwhile, Ethereum addresses holding one or more NFTs have also skyrocketed as the industry is getting widely adopted, despite the recent market turbulence in the crypto space.Though the broader crypto market has been on a months-long downtrend dating back to November 2021, the enthusiasm associated with NFTs activities has shown consistent strength.
Meanwhile, the total volume traded by NFTs has also increased drastically over the past year, with the daily volume only $622M a year ago, increasing nearly 90 times to the current level of around $54.58B per day. In terms of Ethereum addresses holding at least 1 NFT, the surge of interest has been conspicuous since September 2020. Also, only 1.4% of the wallets held 1+ NFTs a year ago, but the number now has gone up to 4.64%.
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