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NFT marketplace status check ahead of 2023- Is NFT season making a comeback

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NFT marketplace status check ahead of 2023- Is NFT season making a comeback

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  • Activity on the social front for NFTs increased globally.
  • Top NFT collections witnessed a hike in prices and NFT marketplaces registered a surge in sales.

According to data gathered by LunarCrush, it was observed that global activity around NFTs reached new heights. In fact, the social mentions and engagements for the global NFT market witnessed a massive spike over the last week.

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This surge in activity on social media was caused by the collective interest generated in multiple NFT collections ranging from the Bored Ape Yacht Club (BAYC) to CryptoPunks and Meebits.

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This sudden increase in interest could have impacted the price of NFT collections such as BAYC. According to data provided by NFTGO, the floor price for BAYC NFTs increased by 15.02% over the last seven days. Along with that, the concentration of Whale Sales also increased towards the end of the week.

Source: NFTGO

Other NFTs, such as CryptoPunks, also observed positive developments. Based on the data provided by DappRadar, the volume of the CryptoPunks NFT collection grew by 89.64% in the past week. At the time of writing, the volume of the CryptoPunks NFT collection was $91.19 million.

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Coupled with increasing volume, the number of NFT transactions for CryptoPunks increased too. Over the last seven days, the number of transactions increased by 65.45%, according to DappRadar.

Source:Dapp Radar

It was evident from the aforementioned data that top NFT collections were faring well even in this bear market.

But that was not the only indicator of a strengthening NFT market. In fact, the overall state of the NFT marketplaces also suggested a positive outlook for the sector.

Looking at the marketplace

According to data provided by Dune Analytics, the overall number of sales being made on NFT marketplaces increased over the past few months. OpenSea dominated this sector and managed to have more sales than all other marketplaces.

Source: Dune Analytics

Even though the number of sales on the platforms was increasing, the average size of a sale decreased materially over the last few months. In terms of sale size, Blur managed to outperform OpenSea.

At press time, the average sale size on the Blur marketplace was 2.034 ETH, whereas the average sale size for OpenSea was 0.506.

Source:Dune Analytics

Even though the NFT marketplaces registered growth in the crypto winter, it is still uncertain whether the pace will continue in the near future.


Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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