NFT trading volume has been on strong momentum since April and the pace is just right for May with Solana and Moonbirds NFTs such as Okay Bears triggering increases in NFT sales volume since April.
According to DappRadar, there was a monumental 45% increase in the volume of organic trading of NFTs in April compared to the previous month. Solana NFT trading has skyrocketed in April, as Moonbirds also proved to boost Ethereum trading.
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NFT Trading Volume Climbing
There was marked sluggishness in February and March, but NFT trading volume has rebounded in April with a 45%increase.
There was a six -week stop that happened in mid -February with the NFT market. Fortunately, my trading volume was good in April. The main reason for the increase in new NFT trading volume was to Solana -based NFT and Moonbirds.
The NFT market has recorded an increase in NFT’s monthly trading volume of $ 6.3 billion in April. This is a growth spurt or a jump of more than 23% since March.
Moobirds Now 11th NFT Most Traded In History
Moonbirds, a private or member -only collection, has raised about $ 500 million in trade that has helped revive the NFT market.
So far, the Moonbirds are now 11th the most -sold NFT collection in history surpassing 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 controversy, Moonbirds remains strong with a floor price consistently above 28 ETH or approximately $ 81,944.
Another important factor is the increase in demand for Solana NFT by 91% on a monthly basis generating a profit of more than $ 300 million. Solana -based NFT also increased its selling price to $ 350.
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OpenSea Support In Solana Enhances NFT
The popularity and great success of Solana NFTs is not surprising especially since OpenSea has already expressed support for Solana blocks. The support of this major NFT market has worked wonders for Solana NFTs.
Okay Bears and DeGods is a popular Solana NFT collection that generated a trading volume of $ 23 million and $ 43 million that paved the way for the collection to be included in the 30 most traded NFT collections in the past month.
In addition, Otherdeeds by Yuga Labs which experienced its first NFT decline on April 30 also contributed to the increase in NFT trading volume.
Despite generating more than $ 340 million in APE, Otherdeeds suffered losses of more than $ 4.5 million due to failed transactions.
Featured image ItsBlockchain, chart from TradingView.com