• Weekly NFT trading volume exceeds $300 million for the first time

  • Weekly trading volume for non-replaceable tokens has soared to more than $339 million, according to data collected.

    This marks an increase of more than 70% from mid-July, when weekly trading volume of NFT peaked at $209.27 million. Prior to that, the high point for weekly trading volume was $197 million reported in February.

    CryptoPunks accounted for the bulk of the latest week’s numbers at $207 million. xie Infinity accounted for $127 million and NBA Top Shot accounted for about $4 million. Average NFT transactions also increased, reaching an average of $34,600 after a series of CryptoPunk sales earlier in the week.

    However, the number of weekly NFT transactions was still declining as of July 26, with the last spike occurring in May.NBA Top Shot has accounted for the majority of transactions since its launch.

    While transaction volume has declined slightly after peaking in March, NFT activity has picked up in recent weeks. Brands, celebrities and other entities continue to mint their own unique tokens.The NFT market continues to grow, with platforms such as OpenSea and Rarible recently securing funding.

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