NFT Trading Volume Has Broken Over $15 Billion in October

Over the past few months, NFTs or non-fungible tokens have entirely taken over the blockchain space. From games to digital items like artwork, these virtual assets are drawing more and more attention from investors.

According to data presented by MejoresApuestas.com, the total trading volume on NFT marketplaces hit over $15bn last week.

OpenSea Accounts for 60% of Total Trading volume

NFT marketplaces play a crucial role in bridging the gap between buyers and sellers, allowing artists to put up their NFT artworks for sale and enabling investors to purchase the item of their choice through bidding. Therefore, any NFT developer or enthusiast must go through the NFT marketplace list to ensure profitable deals on the artwork, collectibles, and other digital assets.

According to the DappRadar data, OpenSea accounts for the biggest share of the total NFT trading volume. Today, its marketplace features more than 700 different projects, including digital art, trading card games, and collectible games, and allows investors to buy, sell and explore exclusive digital assets like Decentraland, Axies, or CryptoKitties.

Last week, the all-time trading volume on the largest and the original peer-to-peer NFT marketplace hit over $9.4bn, or 60% of total trading volume on all marketplaces. Also, statistics show that as of last week, OpenSea hit a total of 575,000 traders, with an average price per deal of $861.

NFT-powered video game Axie Infinity plays host to the second-largest NFT marketplace, with a total trading volume of $2.67bn and 868,000 traders as of last week. It trades exclusively in Axies, Pokémon-like digital pets which players can buy and sell on the Axie Marketplace. Besides having the second-largest NFT market, the CoinMarketCap data also showed the blockchain-based game had the fastest-growing NFT coin in 2021, with a staggering 26,900% YTD market cap growth.

The Number of Unique NFT Wallets Soared by 1,094% YTD

The DappRadar data showed CryptoPunks ranked third on the list of leading NFT marketplaces, with $1.5bn in all-time trading volume and over 5,100 traders. As one of the earliest examples of NFTs on the Ethereum network, CryptoPunks is a series of 10,000 randomly generated characters with pixel art aesthetics and unique attributes. The most expensive one, CryptoPunk #3100, was sold on March 11 for 4,200 ETH coins, then corresponding to around $7.6 million.

Statistics show that NBA Top Shot, a set of digital trading cards featuring NBA video highlight clips, and a community-owned platform Rarible round the list of the top five NFT marketplaces, with all-time trading volumes of $710 million $232 million, respectively.

Besides reaching impressive all-time trading values, the NFT market is also witnessing a surge in the number of unique NFT wallets that either bought or sold an NFT. According to NonFungible data, there were close to 215,000 unique wallets as of last week, showing a massive 1,094% increase since the beginning of the year.