Currently, the Ethereum blockchain has a total of 80,300 NFT collections, up from 15,540 year-on-year. Meanwhile, despite the recent market turmoil in crypto space, Ethereum addresses holding one or more NFTs have skyrocketed as the industry has become more widely adopted.
Interest in NFTs continues to grow
The broader crypto market has been on a downtrend for several months dating back to November 2021, but the enthusiasm associated with NFT activity has shown consistent strength.
According to data collected by IntoTheBlock, a blockchain intelligence company specializing in on-chain analytics, the number of NFT collections on the Ethereum network increased by more than 100% in 2022. Compared to the number recorded a year ago, it’s about 15.5. A collection of K is available and there are over 80K NFTs on the network.
Meanwhile, total NFT trading volumes have also increased significantly over the past year, with daily trading volumes of only $ 622 million a year ago, 90 times the current daily level of about $ 5.458 billion. It is increasing soon.
Since September 2020, there has been a noticeable increase in interest in Ethereum addresses that hold at least one NFT. Also, only 1.4% of wallets held one or more NFTs a year ago, but now it’s 4.64%.
Of all Ethereum-based NFT collections, BoredApeYachtClub reigns as the most valuable NFT project owned by 6,422 addresses, with a market capitalization of 1.05 million ETH and $ 3.18 billion. CryptoPunks and MutantApeYachtClub are the second and third largest NFT series in the rating, respectively, and are worth 471.43 KETH and 456.23 KETH.
Solana as a new home for the NFT collection
While the most popular NFTs still exist on the Ethereum blockchain, Solana-based digital collections have recently caught up and received a lot of attention. In Solana, transaction costs are usually less than $ 1. Many NFT projects and collectors are migrating to blockchain because of their scalability and low transaction costs.
By the end of January, ecosystem sales had exceeded $ 1 billion. Degenerate Ape Academy, a very popular collection of 10,000 unique NFT Apes available only on the Solana blockchain, recorded the highest sales of $ 1.1 million in one Ape in September 2021.
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