- Crypto analytics firm IntoTheBlock recently highlighted some statistics about NFTs, which shows how the concept has greatly emerged in recent months.
- The number of Ethereum (ETH) addresses holding Non-Fungible Tokens (NFTs) has risen to 4.64%, which was 3.35% at the start of this year, highlights the firm.
- It shows BAYC to be the most valuable NFT collection over the last 30 days. Following it are CryptoPunks, Mutant Ape Yacht Club, etc.
The concept of Non-Fungible Tokens (NFTs) has become a center of attraction in the digital era for trading. And their popularity surged highly in the last year as many NFT projects were created.
NFTs Frenzy Escalated Last Year
Crypto analytics firm IntoTheBlock has disclosed that the number of Non-Fungible Tokens (NFTs) collections has surged massively in Quarter 1 of 2022.
The firm highlighted in a recent Tweet that the number of NFT collections on the Ethereum blockchain has roughly doubled since this year started, from 40,000 to a total of more than 80,000.
The number of #NFT collections in $ETH has increased by 104.5% just in 2022.
There are now a total of 80,300 collections.
This is all part of our new NFTs release, stay tuned
— IntoTheBlock (@intotheblock) April 18, 2022
When the year started, there were a total number of 39,250 NFT collections. And throughout this time, the NFT collections have surged by around 380%. According to IntoTheBlock, there were 16,500 NFT collections as of April last year.
Whereas if we talk about, the number of Ethereum (ETH) addresses holding Non-Fungible Tokens (NFTs) has risen to 4.64%, which was 3.35% at the start of this year.
It also compares the total volume of traded NFTs from the beginning of the year to date and signifies that it has surged by over 220%, from $16.94 Billion to $54.86 Billion. So far, the trading volume this year equates to NFTs worth over 18 million Ethereum.
The data further shows that the Bored Ape Yacht Club (BAYC), which is one of the most popular NFT projects currently, was the most valuable NFT collection in the last 30 days, which it highlights as a market capitalization of roughly more than $3 Billion.
Bored Ape Yacht Club(BAYC) is an Ethereum-based collection of 10,000 unique Bored Ape NFTs.An individual’s Bored Ape doubles as their Yacht Club membership card. One possible reason for this can be due to the teaser by Yuga Labs of a new Bored Ape Yacht Club metaverse last month.
Following BAYC, CryptoPunks is another most valuable NFT collection on the ETH blockchain.
Source: https://www.thecoinrepublic.com/2022/04/21/nfts-collections-doubles-down-in-2022-trading-volume-breaks-54-billion-mark/