Moonbirds And Solana NFT Trading Volume Is On A Tear As Sales Rally 45%
07 May 2022 - 9:48AM
NEWSBTC
NFT trading volume has been on a robust momentum since April and
the pace is just right for May with Solana and Moonbirds NFTs such
as Okay Bears triggering the increase in NFT sales volume since
April. According to DappRadar, there is a monumental 45% climb in
organic trading volume of NFTs in April in comparison to the
previous months. Solana NFT trading has skyrocketed in April, as
Moonbirds also proved to boost Ethereum trading. Suggested Reading
| Bitcoin Seen Dropping To $32K – But Not This Month – As Analyst
Sees It Hitting $48K NFT Trading Volume Climbing There has been a
marked sluggishness in February and March, but NFT trading volumes
have bounced back in April with a remarkable increase of 45%. There
has been a halt for six weeks that transpired in mid-February with
the NFT market. Thankfully, the trading volume improved in April.
The main culprit for the recent increase in NFT trading volume
points to Solana-based NFTs and Moonbirds. The NFT market has
recorded an increase in monthly NFT trading volume at $6.3 billion
in April. That is a growth spurt or jump of over 23% from March.
Moobirds Now 11th Most-Traded NFT In History Moonbirds, a private
or members-only collection, has generated around $500 million in
trades which has helped with the recovery of the NFT market. To
date, Moonbirds is now the 11th most traded NFT collection in
history which has surpassed other NFT collections such as Cool
Cats, Doodles, and Meebits. Crypto total market cap at $1.62
trillion on the weekend chart | Source: TradingView.com Despite the
controversies, Moonbirds has remained strong with the floor
price consistently above 28 ETH or approximately $81,944. Another
important factor is the increase in demand for Solana NFTs at 91%
every month which has generated over $300 million in total revenue.
Solana-based NFTs have also increased in the sale price to $350.
Suggested Readin | NFT Market Records Decreasing Number Of Buyers –
Is The NFT Hype Dying? OpenSea Support On Solana Boosts NFTs The
popularity and massive success of Solana NFTs isn’t a surprise
especially because OpenSea has expressed its support for the Solana
blockchain. The backing of this major NFT marketplace has done
wonders for Solana NFTs as a whole. Okay Bears and DeGods are
popular Solana NFT collections that have generated $23 million and
$43 million in trading volume which paved the way for the
collections to be included in the top 30 most traded NFT
collections last month. More so, Otherdeeds by Yuga Labs which had
their first NFT drops on April 30 also contributed to the boost in
NFT trading volumes. Despite generating over $340 million in APE,
Otherdeeds suffered from losses of over 4.5 million due to failed
transactions. Featured image ItsBlockchain, chart from
TradingView.com
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