BloctoBay continues to see huge liquidity in the saturated NFT market since the project was launched in October 2021.
March has been an awesome month for BloctoBay, one of the most vibrant marketplaces driving the Flow blockchain. The NFT marketplace has recorded approximately $41.84 million in volume in the past seven days (March 3 to March 10).
Although this figure seems high due to the bearishness seen in the crypto markets thus far in 2022, the total volume recorded in the last 30 days (Feb. 8 to March 10) is far more impressive. The total volume for BloctoBay from the first week of February up to the second week of March is approximately $176.37 million, according to BeInCrypto Research.
Why is BloctoBay volume important?
After its launch in 2020, NBA Top Shot sales really took off in the first quarter of 2021. This saw the NFT marketplace outpace the Flow blockchain’s first popular NFT collection, CryptoKitties, which was created in 2017.
NBA Top Shot volume in the past seven days totaled $4.44 million and volume in the last 30 days was $36.94 million. This means that BloctoBay led NBA Top Shot by 89% and 79% in the past week and month respectively.
What’s happening in the Flow ecosystem?
Flow has one of the most active ecosystems in the NFT space today. While BloctoBay allows users to buy, sell, and discover all the NFT supported by the Flow network, NBA Top Shot only allows you to buy, sell, and collect the best scoring moments in the NBA.
Flow continues to expand its ecosystem, and the project is among the top-20 at the time of press when development activity is accounted for.
With a development activity value of 164.3, Flow still trails projects such as Solana, Cardano, Polkadot, Chainlink, Ethereum, and Internet Computer among others.
As a result, Flow could have more products in the decentralized finance and non-fungible token space by the end of 2022.