SNEAK PEEK
- 18% Rise in the month of Oct according to analytical firm DappRadar’s new report.
- Overall monthly unique NFT traders reached a staggering mark of 1.11 million this month.
- Trading volumes fell 30% to $662 million in October but monthly volumes also increased .
According to an analytics firm DappRadar’s report it has been found that despite a fall in NFT trading volumes and sales counts throughout the month of October, monthly unique traders have been increasing Up to a staggering volume.
Unique monthly NFT traders have increased tremendously despite an overall fall in NFT trading and sales volumes in the market.
18% growth has been witnessed coming from the monthly unique NFT traders. These monthly unique NFT traders reached 1.11 million. This proves that the NFT market is still in great demand and so are NFTs.
Trading volumes fell 30% to $662 million in October, and the sales volume decreased by 30% to 6.13 million, the firm said. There was a lot of panic among traders as the numbers were falling down, but fortunately, there was nothing to worry about.
As per the report, NFT marketplaces like Magic Eden and LooksRare shifted to another royalty model.
Yuga Labs continues to rule the market, with 6 of the top 10 sales pouring out from Bored Ape Yacht Club and CryptoPunk this month.
As per the reports circulating in the market this October, with all ups and downs the NFT market has seen, unique monthly volume seems to still rise in a surprising way. And, this still shows prevalent stability in the NFT market.
