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Sending $37 billion worth to the NFT market within 4 months…Details here

Sending $37 billion worth to the NFT market within 4 months…Details here

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Answer Sending $37 billion worth to the NFT market within 4 months…Details here

The latest report from blockchain analysis firm Chainalysis indicates that NFT activities have slowed down in 2022.

Then growth started picking up again since mid-April 2022.

pointed out the report The increased interest from individual investors, as evidenced by the increasing number of micro-remittances, has not yet exceeded the market share dominated by institutional investors.

NFT activities stabilize at the beginning of 2022:

Following impressive growth in 2021 that peaked in November, the NFT market followed a deflationary path along with the broader crypto market from January to March.

As evidenced by the volume of transactions, trading activity has recovered since mid-April.

Read:MicroStrategy plans to buy more bitcoin by offering $1 billion in stock

As of May 1, NFT collectors have sent over $37 billion to the NFT market as of the beginning of 2022, just $3 billion less than the full 2021 total, according to the latest report from Chinalysis.

The report indicated that the total volume of transactions decreased in the week of March 13 and quickly bounced back with the launch of the Bored Ape Yacht Club project, which attracted huge capital from institutional investors.

The growth trend of NFT is also reflected in the increasing number of active titles.

The report indicated that 950,000 unique portfolios bought or sold NFT in the first quarter of 2022, up from 627,000 recorded in the fourth quarter of last year.

New NFT titles also reached 491,000 during the first month of the second quarter, indicating that the number of participants has continued the trend of quarterly growth.

Whales continue to collect NFT tokens:

The report stated that the vast majority of transactions under $10,000 were in digital assets.

Meanwhile, the number of whale-sized transactions stopped between 10,000 and 100,000 in the first quarter.

In terms of total transaction value, institutional remittances accounted for the majority of business activities.

Read:Less than 17% of Ethereum addresses control 80% of the NFT…Details here

In particular, as high profile NFT projects appear on the scene, the number of institutional conversions will increase.

A key conclusion from the report is that NFT has continued to attract global audiences, with clear control of institutional funds.

Central and South Asia is slightly ahead of North America and Europe, with these regions accounting for nearly 20% of the total volume as of 2022.

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