{"id":26333,"date":"2023-12-08T13:05:41","date_gmt":"2023-12-08T13:05:41","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/nft-trading-volume-nears-1b-as-markets-turn-bullish-report\/"},"modified":"2023-12-08T13:05:46","modified_gmt":"2023-12-08T13:05:46","slug":"nft-trading-volume-nears-1b-as-markets-turn-bullish-report","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/nft-trading-volume-nears-1b-as-markets-turn-bullish-report\/","title":{"rendered":"NFT trading volume nears $1B as markets turn bullish: Report"},"content":{"rendered":"<div data-v-8081b7b6=\"\">\n<p>As crypto markets turn bullish, nonfungible token (NFT) trading has started to join the wave, with a volume nearing $1 billion in November, according to data published by the decentralized app tracking platform DappRadar.\u00a0<\/p>\n<p>The report highlighted that the NFT industry maintained an upward momentum for the second month in a row. Trading volume surged by 125% in November, suggesting a shift in user behavior compared to earlier downturns in NFT trading. <\/p>\n<figure><figcaption style=\"text-align: center;\"><em>NFT trading volume and sales count data. Source: DappRadar<\/em><\/figcaption><\/figure>\n<p>On Nov. 6, analytics firm Nansen reported that NFT sales volumes showed continued weekly increases in October. NFT sales consistently went up, from $56 million in the week ending on Oct. 9 to $129 million in the week ending on Nov. 5.<\/p>\n<p>Executives working in Web3 believe that this trend may continue further in the coming months. On Nov. 14, SuperRare co-founder Jonathan Perkins told Cointelegraph that the worst of the bear market is \u201cbehind us\u201d and things are starting to turn around.\u00a0<\/p>\n<p>Apart from the uptick in trading volume, the average value of NFT transactions also increased by 114%, climbing from $126 to $270 in November.\u00a0<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Rarible\u2019s RARI Foundation taps Arbitrum for royalty-embedded EVM chain<\/em><\/strong><\/p>\n<p>The report also noted increased daily unique active wallets (UAW) in blockchain gaming. According to DappRadar, on-chain gaming UAWs saw a rise of 14% and had a 34% market dominance in the decentralized applications (DApps) industry. DappRadar noted that the sector \u201ccontinues to be a fundamental pillar\u201d in the decentralized ecosystem.<\/p>\n<p>Despite a seemingly bearish mood all year, blockchain gaming projects managed to secure $2.3 billion in investments from the start of 2023 up to October. An earlier DappRadar report showed that in the third quarter of 2023 alone, blockchain gaming secured $600 million in investments despite crypto market prices being lower compared to its peaks.\u00a0<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>HK game firm to buy $100M crypto for treasury, China\/UAE CBDC deal: Asia Express<\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As crypto markets turn bullish, nonfungible token (NFT) trading has started to join the wave, with a volume nearing $1 billion in November, according to data published by the decentralized app tracking platform DappRadar.\u00a0 The report highlighted that the NFT industry maintained an upward momentum for the second month in a row. Trading volume surged [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":26334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-26333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>NFT trading volume nears $1B as markets turn bullish: Report | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/nft-trading-volume-nears-1b-as-markets-turn-bullish-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NFT trading volume nears $1B as markets turn bullish: Report | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"As crypto markets turn bullish, nonfungible token (NFT) trading has started to join the wave, with a volume nearing $1 billion in November, according to data published by the decentralized app tracking platform DappRadar.\u00a0 The report highlighted that the NFT industry maintained an upward momentum for the second month in a row. 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