Blur remained the main non-fungible token market within the first quarter of this yr with $1.5 billion in NFT buying and selling quantity. Nonetheless, Magic Eden gained market share in March, with its buying and selling quantity for all NFTs surpassing Blur’s.
For your complete first quarter, Blur recorded $1.5 billion in buying and selling quantity for all NFTs, the best amongst all marketplaces, giving it a market share of 27.6% for the interval, up from 24.9% within the earlier quarter, in accordance with a CoinGecko report. For Ethereum-based NFT buying and selling, Blur remained high in March with $565.6 million in Ethereum NFT buying and selling quantity, adopted by OpenSea’s $163.7 million, The Block’s information confirmed.
Magic Eden, nonetheless, seems to have gained market share in March. CoinGecko information confirmed that the NFT buying and selling quantity on {the marketplace} amounted to $756.5 million in March — up from $256.9 million in February — whereas Blur logged $530.4 million in buying and selling quantity in the identical month. CoinGeck stated the amount surge on Magic Eden could possibly be primarily “on account of its introduction of its Diamond reward program, and its Ethereum-based market with Yuga Labs.”
The Ordinals buying and selling quantity on Magic Eden seems to have additionally contributed to the platform’s development. For instance, on March 3, the each day buying and selling quantity for Ordinals on Magic Eden amounted to $39.3 million, whereas OKX’s market recorded $8.62 million on the day, in accordance with The Block’s information dashboard. “Bitcoin NFT buying and selling quantity shifted to different platforms equivalent to Magic Eden, and UniSat,” CoinGecko stated in its report.
In the meantime, the ground value of the Bored Ape Yacht Membership assortment dropped to a low of 10.04 ETH (about $298,500) on Tuesday, the bottom level since August 2021, in accordance with The Block’s information dashboard.
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