NFT trading volume surged to its highest weekly level since May, driven primarily by a renewed interest in Ethereum-based art and collectibles, according to data from The Block theblock.co.
🔥 Key Highlights
- Peak NFT Volume: Weekly NFT trading hit its highest level in six months.
- Ethereum at the Forefront: Ethereum-led projects took charge, reaching their strongest sales since August 2021 Wikipedia+15theblock.co+15theblock.co+15.
- Discord Between Traders and Transactions: While total trading volume rose, the number of unique monthly NFT traders remained relatively flat or slightly declined NFT Evening+15theblock.co+15Binance+15.
🔍 What’s Fueling the Surge?
- Ethereum’s Dominance: The rise in interest for Ethereum collectibles—possibly including nostalgic or blue-chip projects—is the primary catalyst.
- Volume vs. Participants: The uptick suggests existing collectors are engaging more deeply, trading higher-value NFTs or more frequently, without a proportional increase in new buyers.
âś… Takeaway
This surge marks a possible turnaround in the NFT market, with Ethereum-based art and collectibles leading the resurgence—even as new trader activity stays subdued.
