Ethereum NFT sales up 43% in January
Ethereum NFT sales up 43% in January
Ethereum NFT sales for January were $780.2 million, a significant increase from the previous month, but still 85% less than last year.
Cover/illustration via Cryptooshala
According to CryptoSlam, Ethereum NFT sales are up 43% in January compared to the previous month.
Total January sales were $780.2 million, including 267.6K unique sellers and 257.6K unique buyers. data aggregator platform showed.
By comparison, total sales in December 2022 were $546.8M, including 203.8K unique sellers and 188.2K unique buyers.
The jump in sales from the previous month resulted in a 31% increase in unique sellers and a 37% increase in unique buyers, signaling a resurgence of interest in NFTs. However, it was noted that the January average sale price of $372 was lower than the December 2022 average price of $391.
The chart below shows an upward trend in sales (black line) that peaked on January 18 at $43.9 million. It was the highest sales day since May 20, 2022, when sales reached $44.3 million.
Long haul
Although the data points to a recovery in the NFT market, January numbers are still well below the market’s peak in January 2022.
At the time, monthly sales were $5.281 billion, including 305,000 unique sellers and 450,300 unique buyers, for an average selling price of $2,388.
As such, year-on-year sales are down 85%, unique sellers and unique buyers are down 12% and 43% respectively, and the average selling price is 84% below the January 2022 peak.
Interest in non-fungible assets has increased in recent weeks, thanks in large part to serial numbers on the Bitcoin blockchain. However, as macroeconomic uncertainty continues to weigh heavily, it remains to be seen if NFT sales growth will continue.
Ethereum is still number 1 for NFTs
Ethereum remains the leading NFT platform – far surpassing its nearest competitor Solana – in terms of sales, unique sellers and buyers, and transaction numbers.
Over the past 30 days, Solana NFT sales totaled $115.3 million and Ethereum sales totaled $861.3 million – about seven times more.
Interestingly, during this period, NFT sales on ImmutableX and Aribitrum jumped, increasing by 45.3% and 157.6%, respectively.
On-chain data shows Bitcoin is emerging from the depths of despair
Cryptooshala’s latest market report takes a detailed look at data from the Bitcoin network suggesting the bear market may be coming to an end.
Credit : cryptoslate.com
