NFT trading volume has skyrocketed over the past 24 hours as crypto markets plummet along with the low prices of many of the leading NFT collections.

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In a long list of top NFT projects such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Crypto Punks and Sorare, trading volumes have increased by more than 100% in 24 hours as investors look to catch up. cheaper NFTs as floor prices fall.

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According to CryptoSlam data, eight of the top 10 NFT projects in terms of 24 hour sales saw an increase in trading volume of at least 115%, with the only projects falling under this mark being Goblintown with 35.54% and Moonbirds with 64. eleven. %.

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Leading the pack is Yuga Labs’ BAYC NFT package, which is up 262.79% in the last 24 hours, accounting for $7.1 million in sales.

Notably, the following three top-rated projects also belong to Yuga Labs: MAYC, Otherdeed, and CryptoPunks show 173.49%, 157.88%, and 122.69% growth in 24-hour trading volume, totaling $3.4M , $2.6 million and $2.5 million. sales value respectively.

24 Hour Trading Volume: CryptoSlam

DappRadar data also shows that the OpenSea marketplace has been the biggest beneficiary of the increase in trading volume over the past 24 hours, with the platform posting a 173.43% increase in trading volume and total sales of $23.88 million.

However, the number of traders on the platform also decreased by 15.39% to 29,300 over the same time period, suggesting that only a small number of investors with relatively deep pockets are making moves.

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It’s also worth noting that while the lows of projects like BAYC and CryptoPunks have fallen to 82.5 ETH ($96,700) and 47 ETH ($54,800) – compared to their all-time highs of 153.70 ETH and 123 ETH – investors are still buying assets above the floors.

In the last 24 hours, CryptoPunks #8620 and #5690 were sold for 275 ETH ($327,000 at current prices) and BAYC NFT #393 and #3441 were sold for 118 ETH ($140,000) and 105 ETH ( $124,000).