Cryptocurrency

DappRadar

SuperRare

Rise

<p style="text-align: justify">According to data published by the decentralized blockchain data analysis platform DappRadar, the <a href="https://en.coin-turk.com/significant-decrease-in-ethereum-gas-consumption-for-nfts-reasons-behind-it/" data-wpel-link="internal" rel="noopener noreferrer nofollow">NFT</a> sector has adapted to the surge in the crypto market led by <a href="https://en.coin-turk.com/spot-bitcoin-etf-approval-what-to-expect-and-its-potential-impact-on-bitcoin-price/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>. According to platform data, the transaction volume in the NFT market approached $1 billion in November, and investors began to participate in the NFT market following the surge in the crypto market.</p>
<h2 style="text-align: justify" id="the-rise-continues-in-the-nft-market">The Rise Continues in the NFT Market</h2>
<p style="text-align: justify">The report shared by DappRadar highlighted that the NFT market has maintained its upward momentum for the second consecutive month. The transaction volume increased by 125% in November, indicating a significant change in user behavior compared to previous declines in NFT trade transactions.</p>
<p style="text-align: justify"><img decoding="async" loading="lazy" class="aligncenter wp-image-286481 size-full" src="https://coin-turk.com/wp-content/uploads/2023/12/dappradar-nft-hacmi.jpg" alt="" width="1006" height="631"></p>
<p style="text-align: justify">Another blockchain analysis firm, Nansen, announced on November 6 that NFT sales volumes continued to increase on a weekly basis in October. NFT sales showed a steady increase, rising from $56 million in the week ending October 9 to $129 million in the week ending November 5.</p>
<p style="text-align: justify">Executives working in the Web3 sector believe that this upward trend could continue in the coming months. SuperRare co-founder Jonathan Perkins announced on November 14 that the worst period in the bear market is behind us, and things have started to turn around in the market.</p>
<h2 style="text-align: justify" id="focus-turns-to-game-projects-in-the-nft-market">Focus Turns to Game Projects in the NFT Market</h2>
<p style="text-align: justify">In addition to the increase in transaction volume, the average value of NFT transactions also increased by 114%, rising from $126 in November to $270. The report also noted an increase in the number of daily unique active wallets (UAW) in the blockchain gaming space.</p>
<p style="text-align: justify">According to DappRadar, there was a 14% increase in on-chain gaming UAW data and it gained a 34% market dominance in the decentralized applications sector. DappRadar stated that the sector continues to be a fundamental pillar for the decentralized ecosystem.</p>
<p style="text-align: justify">Despite the downturn seen in the NFT market throughout the year, blockchain game projects managed to receive $2.3 billion in investment from the beginning of 2023 to October. A report previously shared by DappRadar drew attention to the fact that blockchain games received $600 million in investment in the third quarter of 2023 alone, despite token prices in the crypto market being lower compared to their peaks.</p> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/continued-rise-in-the-nft-market-amid-cryptocurrency-upswing/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/continued-rise-in-the-nft-market-amid-cryptocurrency-upswing/</a>

Continued Rise in the NFT Market Amid Cryptocurrency Upswing

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