NFT marketplace OpenSea achieved very strong trading volumes in January.
According to The Block Data Dashboard, NFT trading on OpenSea in January surpassed the $1.36 billion mark in 10 days.
The platform’s highest monthly holder recorded in August 2021 was $3.16 billion. 20 days before the end of the month, January may set a new record.
NFT Renaissance
The NFT market rebounded in December after a four-month decline in activity. The trend continues in the new year.
This trend has become even more pronounced with increasing demand for certain NFT collections such as the Bored Ape Yacht Club. In just 10 days, 100 million dollars of Bored Ape NFT transactions took place.
With MoonPay’s $3 million purchase of CryptoPunk at the beginning of January, there has been a huge increase in other collectibles as well.
These increases in the NFT market did not find a response in the crypto market. Its market cap fell below $2 trillion for the first time since September.