As the public becomes more aware of the existence of non-fungible tokens (NFTs) and the metaverse thanks to a slew of celebrities and brands transitioning there, their trading volume is seeing a steady increase.
Indeed, the total volume traded in NFTs has recently exceeded 18 million ETH or $54 billion in aggregate value, according to the data from the cryptocurrency market analytics platform IntoTheBlock retrieved on April 18.
Year-to-date NFT trading volume. Source: IntoTheBlock app
Specifically, IntoTheBlock’s year-to-date chart shows that the global trading volume of NFTs grew from $16.94 billion on January 1, 2022, to $54.58 billion on April 17, which is an increase of 222.2% since the year’s turn.
Elsewhere, the platform had previously shared another chart on April 13, which showed that the NFT adoption curve was actually “just starting,” with only 4.5% of ETH addresses with a balance being holders of NFTs.
Addresses holding NFTs over the previous year. Source: IntoTheBlock app
