Summary
- The Block reported that recent NFT trading volume hit a six-month high.
- Especially, Ethereum (ETH)-based NFTs accounted for more than half of the total trading volume, playing a leading role.
- The Block stated that the surge in NFT trading volume has partially impacted the rise in Ethereum prices.
The trading volume in the non-fungible token (NFT) market has surged.
On the 21st (KST), the cryptocurrency-focused media outlet The Block reported, citing data from CryptoSlam, that the total NFT trading volume across all blockchains for the third week of July reached $143.5 million. This is the highest figure in about six months since last January.
Trading volume of Ethereum (ETH)-based NFTs exploded. Last week, NFT transactions conducted on the Ethereum-based blockchain amounted to $75 million, accounting for more than half of the total trading volume. This was followed by Bitcoin (BTC), Polygon (POL), and others.
The Block noted that the increase in NFT trading volume also had some effect on the rise in Ethereum's price. As of 6:45 AM this morning, Ethereum was trading at $3,764 on CoinMarketCap, up 5.81% from the previous day. This marks a surge of about 27% compared to last week.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
