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Blur dominates nearly 80% of NFT trading volume as market activity surges

NFT: Blur dominates nearly 80% of NFT trading volume as market activity surges

The NFT market has experienced a significant increase in trading volume, particularly on the #Blur NFT marketplace. In November alone, there was a staggering $605 million in Ethereum-based NFT trading, surpassing the previous month's trading volume of $306 million by almost 100%. This surge in activity indicates a growing interest in NFTs and their potential value.

Since the beginning of December, the trading volume on the Blur NFT marketplace has already reached nearly $90 million, with approximately $70 million coming from transactions on Blur. This demonstrates the marketplace's popularity and the trust placed in it by #NFT traders.

Blur dominates nearly 80% of NFT trading volume as market activity surges
Ethereum NFT Marketplace Monthly Volume. Source: theblock.co

What sets Blur apart from other #NFT marketplaces is its dominance in the Ethereum-based NFT market. Since February of this year, Blur has gained a significant market share, now accounting for approximately 80% of the total trading volume in this sector. On the other hand, #OpenSea, which was once the leading NFT marketplace, now holds only around 17% of the NFT trading volume. This shift in market share highlights the growing preference for Blur among professional NFT traders.

Blur dominates nearly 80% of NFT trading volume as market activity surges
Share of Ethereum NFT Marketplace Volume. Source: theblock.co

Notably, there has also been an increase in trading on Solana-based NFT marketplaces. Throughout November and into December, daily trading volumes on these platforms have been rising. On November 30th, the total trading volume across Solana-based NFT markets reached $9.3 million, the highest it has been since April of this year. Among these marketplaces, #Tensor stands out with over $5 million in daily trades.

Blur dominates nearly 80% of NFT trading volume as market activity surges
Solana NFT Marketplace Volume. Source: theblock.co

Blur, launched in October 2022, has quickly gained traction as a zero-fee NFT marketplace catering to the needs of professional NFT traders. Its user-friendly interface, robust features, and growing community have contributed to its success in the NFT sector.

In conclusion, the NFT market has witnessed a surge in activity, with the Blur NFT marketplace leading the way in terms of trading volume and market share. The rise of Blur and the increasing interest in NFTs indicate a promising future for this digital asset class.

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