Last Week Was Record-Breaking For NFT Markets

by in Cryptocurrency News

NFT trading volume

The trading volume of NFT markets along with average prices have gone up to new highs over the previous week, especially during the weekend. According to data provided by the dapp analytics platform DappRadar,the NFT marketplace OpenSea reached $35 M traded volume on July 31 and $49 M on the next day.

Related: Shopify Enables Direct NFT Sales From NFT Stores

Not considering July 31, the average indicator in July was around $8.3 M. The month's previous peak of $14.4 M was on July 17. The volume for OpenSea’s popular collectibles CryptoPunks reached $78.4 M on July 30 and 31.

Today, August 3, the token’s average price reached a peak of 66.919 Ether, equal to about $175.520 on OpenSea.

CryptoPunks are among the most popular NFTs. They are Ethereum-based 10,000 pixel-art punk-fashioned characters made by Larva Labs in 2017. In June, CryptoPunk #7523 was sold for $11.8 M becoming the second most expensive NFT after Beeple’s “Everyday”.

Other collections like ArtBlocks Curated or Bored Ape Yacht Club (BAYC) also saw an increase in average price hitting their all-time highs of 8.1216 ETH ($20,990) and 11.2614 ETH ($29,200).