NFT volume is on an upward trend since April. The pace for May has just been right with Moonbirds and Solana NFTs like Okay Bears driving the rise in NFT sales volume.
DappRadar claims that there has been a remarkable 45% rise in NFTs’ organic trading volume in April compared with the preceding months. Solana NFT trading is up by 45% in April. Moonbirds have also proven to be a boost for Ethereum trading.
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NFT Trade Volume Rises
There was a noticeable slowdown in February and March. However, NFT trading volumes rebounded in April with an impressive increase of 45%.
The NFT market caused a six-week halt in trading that occurred mid February. The trading volume increased in April, which was a good thing. Moonbirds and Solana-based NFTs are responsible for the increase in NFT volume.
NFT markets have seen a rise in NFT monthly trading volumes to $6.3 billion for April. This is an increase or leap of more than 23% compared to March.
Moobirds Now 11ThThe Most Traded NFT in History
Moonbirds, an exclusive or member-only collection has generated trades of around $500 million which have contributed to the recovery in the NFT market.
Moonbirds has been ranked 11th in the world to date.ThThe most widely traded NFT collection, surpassing all other NFT collections like Cool Cats and Doodles.
On the weekend chart, crypto total market cap is at $1.62 trillion | Source: TradingView.com
Despite the controversies, Moonbirds has remained strong with the floor price consistently above 28 ETH or approximately $81,944.
The demand for Solana NFTs has increased at 91% per month, which has resulted in over $300 million of total revenue. NFTs based in Solana have seen their prices rise to $350.
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OpenSea Support on Solana Increases NFTs
The popularity and massive success of Solana NFTs isn’t a surprise especially because OpenSea has expressed its support for the Solana blockchain. Solana NFTs have seen a significant increase in their popularity and success thanks to the support of OpenSea.
Okay Bears, DeGods, and DeGods were two popular Solana NFT collection that generated $43 million and $23 million respectively in trading volume. This allowed the collections to make it into the Top 30 Most Traded NFT Collections last month.
Even more, the NFT trading volume surge was aided by Otherdeeds from Yuga Labs on April 30, which saw their first NFT drop.
Otherdeeds generated over $340million in APE but suffered losses of more than 4.5 million from failed transactions.
Featured Image ItsBlockchain chart, TradingView.com
