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Ethereum NFT market cap shrank 59.6% in 2022; NFT trading volume jumps 38% in January
- Zeynep Geylan
- 2023-02-11
- 3136
- ETH
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Summary:Ethereum-based NFT collections' market cap dropped from $9.3 billion to $3.7 billion in 2022. However, numbers from January indicate growth.
According to a report by DappRadar, the total market value of NFT combination deployed in ETH in 2022 decreased by 59.6%.
According to the report, gradually in 2022, the total market value of the NFT project of ETH is 9.3 billion US dollars, and the completion is 3.7 billion US dollars. However, the data in January showed that the NFT market began to prosper, mainly including the NFT according to ETH.
Yuga Laboratory
ETH started 81 NFT combinations on the chain. Data shows that Yuga Labs NFT accounts for 67% of the total market value of ETH chain NFT.
Yuga Labs includes the most popular NFT series products, such as CryptoPunks, Bored Ape Yacht Club (BAYC), Bored Ape Yacht Club (BAKC), Mutant Ape Yach Club (MAYC), Meebits and Otherside.
CryptoPunks and BAYC together account for 46.7% of the total market value of ETH NFT. The cost price of BAYC was US $98438, and the transaction volume in January was US $49 million.
January NFT
Another report from DappRadar shows that in January, the transaction volume of NFT increased by 38% from about US $700 million in December 2022. At this stage, the transaction volume is 946 million US dollars, reaching a record high since June 2022. The total sales of NFT has increased from 6.7 million in December to 9.2 million in January, an increase of 42%.
ETH ranks first in the largest NFT turnover. The trading volume of the chain store increased from $480 million in December 2022 to $659 million in January, an increase of 37%.
Solana (SOL) and irregular graphics(automatic)After ETH, it ranked second and third from US $85 million and US $46 million respectively. Although SOL increased by 23% from US $69 million in December last year, MATIC ranked third in that month with a growth rate of 124%.
Avalanche(Avax)And Tezos(XTZ Enterprise)The monthly summary growth rate was 451% and 150% respectively, ranking first and second. Cannot change X(the international civil aviation organization)And WAX(Wax)On the other hand, blockchain technology fell by - 3% and - 32% respectively in January.
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