According to DappRadar, the NFT market had an upturn in October, with trade volume increasing by $99 million over the previous month.
According to DappRadar, the NFT market had an upturn in October, with trade volume increasing by $99 million over the previous month.
This 32% increase to $405 million represented a break in the yearly decreasing trend in NFT trading. The increase in trading volume coincided with Bitcoin's price exceeding $35,000, its highest level in 16 months, fuelled by speculation over the possibility of a Bitcoin spot ETF.
Ethereum remains the most popular blockchain for NFT trading, with a 50% increase in trade volume. While the market showed signs of improvement, the overall number of NFTs sold in October fell 5% from September.
Despite the increase, NFT sales remained below the March peak as it underwent a brutal bear market.
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