NFT Trading Volume Reaches Pre-LUNA Crash Levels in February

• NFT trading volume has seen a 117% increase from January to February, reaching $2 billion for the first time since May 2022.
• Ethereum (ETH) was the top blockchain by NFT trading volume, accounting for 83.36% of the entire market.
• Blur and OpenSea were the two busiest NFT marketplaces in February, with Blur facilitating over $1.3 billion in trading volume while OpenSea represented 28.7%.

NFT Trading Volume Returns to Pre-LUNA Crash Levels

Non-fungible token (NFT) market’s trading volume increased to $2 billion in February, reaching its pre-LUNA crash levels, according to DappRadar’s Industry Report.

Trading Volume Increases Significantly

The NFT trading volume recorded a 117% spike from January’s $956 million, as the DappRadar data shows. Meanwhile, sales count recorded a 31.46% decrease, falling to 6.3 million from January’s 9.2 million.

Ethereum is Top Blockchain

In February, Ethereum (ETH) remained the top blockchain by NFT trading volume. The chain recorded $1.8 billion in trading volume, which marks a 174% increase from the $659 million in January.

Blur vs OpenSea

Blur triumphed over OpenSea in terms of trading volume in February. Blur facilitated over $1.3 billion in trading volume throughout the month while OpenSea came second with $587 million.

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