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Oct 19, 2022

Cardano is now among top 3 NFT chains with 132% jump in 24-hour volume

News, NFT News
Cardano is 132% jump in last 24-hours

SNEAK PEEK

  • The NFT space of Cardano is expanding exponentially.
  • NFT traders are shifting from Solana to Cardano.
  • Solana’s 24-hour NFT volume dropped 30%.

Cardano has made it to the top three NFT chains, thanks to its NFT space getting traction consistently. The PoS blockchain platform surpassed Immutable X with $968,000 traded in NFTs.

Additionally, Cardano has experienced a rise by 132% in 24-hour NFT volume. What’s worth noticing is that other popular platforms like Derp Apes, The Ape Society, Claynation by Claymates and Spacebudz increased by 368%, 341%, 318% and 1066%, respectively, in terms of 24-hour volumes.

A migratory situation of NFT traders has been observed as a number of them have gone from Solana to Cardano. This could be one potential reason behind the increase in volumes Cardano has ever seen. 

In the past 24 hours, the number of NFT trades rose by over 40%. Coming to the NFTs that were sold, they also increased by 40%.

Based on the screenshot shown by Stocktwits NFTs, an increase between 40% and 140% has been noticed in the floor prices of the leading CNFT collections as well. 

The NFT space of Cardano is expanding quite quickly and six million plus NFTs have been minted though its DeFi space is still behind growth. The Cardano TVL, the total value locked in the DeFi space of Cardano, is merely $65.39 million. 

Orbis analyst, Sooraj, has foreseen the growth of Cardano DeFi. According to him, Cardano’s  NFT volume is phenomenal. 

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About The Author

Manjul Mishra

Manjul is fond of writing news, blogs & articles based on NFT, crypto and metaverse. With years of experience in writing, she knows how to entice the audience and keep their interest in place. Chasing the most recent moves happening in the technological world, she conveys them through her writing. Apart from writing, she is inclined towards music in her free time.