Ethereum’s Top 5 NFT Marketplaces Surpasses Daily Volume of $1M

Jafrin  |  Oct 10, 2020

Ethereum's top 5 NFT marketplaces have exceeded a daily trade volume of $1 Million. Such a high trade volume level was reached after week-long trading from the NFT space. As Bitcoin and Ethereum sees a bullish upward movement towards $11k and $400 respectively, the NFT industry too sees a considerable momentum.

According to DappRadar, the 24-hour trade volume of the top 5 NFT marketplaces on Ethereum has just surpassed $1 Million.

Rising Trend of Non-Fungible Tokens

To demonstrate a rising trend within the space, a $1 Million trade volume was a feat in itself that was accomplished amid a week.

According to last week’s data from non-fungible.com, a total of 9,284 sales and $988,728 occurred in the Non-fungible token trading volume of 7-days. The data further highlighted that the average U.S. dollar price for a single NFT is now approx. $106.

This signifies that the NFT industry is accelerating towards an exponential rate pertaining to NFT’s $1 Million trade volume attained within 24 hours.

Ethereum: The Era of Digital Ownership

NFTs are unique digital items issued on blockchains that are indistinguishable from each other through their unique number. Popular non-fungible tokens include digital collectibles such as CryptoKitties and virtual land platforms like Decentraland.

NFTs as artworks are also quite popular to create and sell in the marketplace. Even Tyler Winklevoss has shown his support of NFTs while advising NFT enthusiasts to use NiftyGateway.com.

DappRadar’s recent report concludes that NFT industries with its digital ownership will continue evolving and gain popularity with time owing to the recent era of digital ownership:

"The introduction of digital ownership through NFTs is truly exciting. Real digital ownership is around the corner and the world appears to be pivoting to a more digital life overall. In part, spurred on by the Covid-19 pandemic in 2020. As more and more people need to protect themselves from the outside world might we live in digital habitats full time? If so, we will need things to do in these virtual worlds and NFTs can provide the perfect solution to real digital ownership".

Related News