In January, $780,2 million in Ethereum NFTs were sold. This was a significant gain over the previous month, but it was still 85% less than this time last year.
Ethereum NFT sales increased 43% in January compared to the previous month.
There were 267.6k unique sellers and 257.6k unique purchasers in January, for a total of $780.2 million in sales.
There were 203.8k unique sellers and 188.2k unique buyers in December 2022, with total sales of $546.8 million.
When sales increased from one month to the next, the number of unique sellers increased by 31%, while the number of unique consumers increased by 37%. This shows that interest in NFTs is returning. However, it was pointed out that the average sale price in January was $372, which was lower than the average sale price in December, which was $391.
The black line in the graph below illustrates that sales have been increasing, reaching a high of $43.9 million in January 2018. This was the greatest sales day since May 20, 2022, when $44.3 million was generated.
There is a long way to go
Even while the data suggests that the NFT market is improving, January’s numbers were still much lower than the market peak in January 2022.
Each month, there were 305k unique vendors and 450.3k unique buyers, with an average sale price of $2,388.
As a result, sales are down 85% year on year, there are 12% fewer unique vendors and 43% fewer unique buyers, and the average transaction price is 84% lower than it was in January 2022.
Non-fungibles have gained popularity in recent weeks, owing primarily to Ordinals on the Bitcoin network. However, because macroeconomic uncertainty remains a major issue, it needs to be seen if the increase in NFT sales will be sustained.
Ethereum remains the most widely used NFT
Ethereum remains the leading NFT platform:
Solana sold $115,3 million in NFTs in the last 30 days, but Ethereum sold $861,3 million, over seven times more.
It’s worth noting that sales of NFTs on ImmutableX and Aribitrum have increased by 45.3% and 157.6%, respectively, during this period.
Content Source: cryptoslate.com
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