NFT gross sales quantity is up for the second consecutive month, eliciting pleasure throughout the Web3 neighborhood. Now even essentially the most optimistic can’t assist however marvel if the bear market is over. It’s been a torrid 2022 for NFTs and the crypto market basically, with most initiatives dropping practically all of their worth.
Nonetheless, 2023 appears promising for the Web3 area, as information from numerous marketplaces signifies. In line with Dune, an analytics platform, OpenSea has recorded back-to-back month-to-month Ethereum NFT gross sales quantity rises in over one yr.
The NFT market has managed to course of over $320 million in Ethereum NFT trades this month. That’s $37 million greater than the whole quantity recorded in December and over $67 million in November.
Final month was the primary month since April 2022 when such positive factors have been witnessed in consecutive months on OpenSea. The positive factors have had a ripple impact throughout the community, as ETH can be up 33% over the previous month.
Present NFT Gross sales Quantity A Shadow In comparison with Final Yr
The positive factors are a lot welcomed throughout the NFT area after months of decline. Though they’re a far cry from the place the market was firstly of final yr. OpenSea managed to document its greatest month final January with over $4.8 billion in Ethereum NFT gross sales.
Then it managed at the least $2 billion in NFT gross sales quantity for 5 consecutive months earlier than the decline started. Curiously, December 2021 and January 2021 have been the final time {the marketplace} recorded consecutive positive factors in NFT gross sales quantity.
That mentioned, prime collections on Ethereum and different marketplaces are additionally seeing positive factors. A fast look reveals the most affordable listed Bored Ape Yacht Membership (BAYC) NFT goes for $108,000 in ETH. That’s a rise of over 27% prior to now month. Additionally, the bottom CryptoPunks NFT goes for $108,000 after a 41% bounce within the final 30 days.
