NFT Market Dynamics

Recently NFT market fluctuates continuously while major platforms compete severely and SOL and ETH chains compete to be the new leader of upcoming NFT field.
Even in crypto winter, it is still hot and getting hotter.

This data is collected from Dune Analytics by subinium. As he commented, all this data should be double checked to see all situation as it is clearly.

The total amount of NFT trading has declined. From June, NFT transaction volume was down so much.
But NFT trading transaction, a number of transaction, has kept its volume and on September it incresed dramatically. Based on data, it was casued by Solana chain NFT transaction that there were big events of Solana leading NFT projects.

x2y2 or looksrare volume is more than the Opensea amount for last 3 months, it is required to check that more. The data collector and analyst coomented that that many of the transactions are wash trading.

The total transaction number of Magic Eden is remarkable. In the transaction number perspective, Magic Eden already got over Opensea and any other ETH platforms.
More data should be collected and reviewd because Solana data is not collected and analyzed much enough to see the real development and trend as many influencer, holders and analysts are in the side of ETH.

With the number of buyers and sellers each week, the number of Opensea traders and MagicEden traders are getting closer and closer.

ETH, SOL market and chain features are different so it may be required to see deeply to see the real phenomenon and upcoming new trend.

Source: subinium