Is the crypto bear market coming to an end? Cryptocurrency prices increasing recentlyand now, NFTs Space is also recovering.The latest: OpenSea, a major market, continues to make notches ethereum NFT’s monthly sales increased for the first time in a year, with January’s sales already surpassing December’s with a week to go.
According to publicly available blockchain data, Analytics Platform Dune, OpenSea has processed $320 million worth of Ethereum NFT transactions so far in January, up from about $283.5 million in December. And December marks the first time OpenSea has posted any kind of sales increase since April 2022, up from $253 million in November.
Ethereum’s rising value has something to do with it. Ethereum has surged 33% over the past 30 days and is currently priced at $1,620, according to data from. coin geckoBut even when measured in ETH, OpenSea’s January sales are just over 228,000 ETH this month, compared to 227,000 ETH in the previous period, slightly above the December tally. In November, OpenSea sold his 191,000 ETH worth of Ethereum NFTs.
Still, while OpenSea’s recent rise is a positive sign for the industry after months of declining sales, the numbers confirm just how significantly the market has deteriorated over the past year. January 2022, OpenSea Marking best month ever When worth $4.86 billion Ethereum NFT turnover.
OpenSea has recorded at least $2 billion worth of NFT trading volume for five consecutive months starting in 2022, but has seen volatile fluctuations during that period. The last time the Marketplace saw two consecutive months of increased sales volume (measured in USD) was from December 2021 to January 2022.
OpenSea’s streak isn’t the only recent data point that hints at the beginnings of life in the NFT space. Prices for the top collections have increased, including the cheapest collections. Boad Ape Yacht Club NFT jumped from $84,500 worth of ETH to almost $108,000 over the past 30 days. NFT Price Floor. Cryptopunks Over the same span, it jumped from $76,500 worth of ETH to $108,000.
According to data from, Bored Ape’s sales in the last 30 days have increased by 45% compared to the previous period. crypto slamin the meantime Azuki NFT is up 89%, art block Sales are up 62%.
The increase in NFT trading volume does not appear to be unique to OpenSea. Overall, CryptoSlam saw a 33% increase in Ethereum NFT sales volume during that period, Solana Selling NFTs.
Before, Decryption According to the report, the organic sales of the entire NFT market are Slight increase in December 2022 Compared to the previous month, it increased from $662 million to $684 million, according to DappRadar data.
last week Launch of sewer pass NFT Members of the Bored Ape Yacht Club helped facilitate secondary market trading. Secondary deals worth $35 million ever. OpenSea and X2Y2 appear to have handled most of these deals, as Yuga Labs blocked platforms that don’t fully enforce creator royalties (such as Blur and LooksRare).
The Bored Ape Yacht Club and related collections have recently boosted NFT’s trading volume. evidence Director of Research Punk9059 About half of all Ethereum NFT trading volume in the past week. But the apes were also a major driver of activity early in 2022, so that’s not a big change.
BAYC ecosystem assets have executed nearly 50% of total ETH NFT volume over the past week.
not sure if these Recent signals will eventually coalesce into a sustained NFT market rally. There is no question that the sector has lost a lot of momentum over the past year. However, after months of declining activity, the up move is definitely seen as good news for traders and builders in the space.
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