The Non-Fungible Token Market Has Continued to Display Outstanding Endurance Over the Previous Few Months Regardless of the Excessive Ranges of Market Volatility

The non-fungible token market has continued to display outstanding endurance over the previous few months regardless of the excessive ranges of market volatility.

The non-fungible token market has continued to indicate outstanding resilience over the past few months despite the high levels of market volatility. Having endured a brutal market meltdown, the NFT market has generated over $3 billion in trading volume over the last three months.

Data compiled by Tiexo, an on-chain multi-chain NFT explorer, shows that the NFT trading volume across the top five NFT marketplace platforms surpassed the $3.7 billion mark, with one of the largest multi-chain NFT marketplace, Magic Eden, taking the lion’s share. Below, we have listed the five top NFT marketplaces by trading volume:

5 Top NFT Marketplaces In Q2, 2024

1. Magic Eden NFT Marketplace

Magic Eden was the most-traded NFT marketplace in the second quarter of 2024. Over the past three months, the NFT marketplace platform has generated $1.27 billion, making up 34% of the total market share. Out of the $1.27 billion, NFTs minted on the Bitcoin network took 61% of the market share, while Solana and Ethereum digital collectibles took 22% and 16%, respectively.

2. Blur NFT Marketplace

Blur was the second most-traded NFT marketplace platform in the second quarter of 2024. Over the past three, the NFT marketplace platform recorded a trading volume of $1.04 billion, making up 27.79% of the total market volume. Since Blur was single-chained at the time, the Ethereum-based digital collectibles took 100% of the market share.

3. OKX NFT Marketplace Platform

OKX, an NFT marketplace from the renowned crypto exchange, OKX, was the third most-traded NFT marketplace in Q2, 2024. Over the past three months, the OKX NFT marketplace recorded a trading volume of $465 million, making up 12.48% of the total sales volume. During this period, the Bitcoin-based NFT collection took 99% of the total market volume.

4. UniSat NFT Marketplace

UniSat was the fourth most-traded NFT marketplace platform in the second quarter of 2024. UniSat recorded a trading volume of $376 million over the past three months, making up 10% of the total market volume. During this period, the Bitcoin-based NFT collection swept 100% of the total trading sales volume.

5. OpenSea NFT Marketplace

OpenSea, the leading non-fungible token marketplace in sales during the 2021-2022 historic bull run, was the fifth most-traded NFT marketplace in Q2, 2024. Over the past three months, the NFT marketplace attracted a trading volume of $346 million, taking 9.30% of the total $3.75 billion sales volume. Out of the $346 million, Ethereum, Polygon, and BNB-chain NFT collections took 52%, 40%, and 8%, respectively.

5 Top NFT Collections In Q2, 2024

1. Bored Ape Yacht Club NFT Collection

Bored Ape Yacht Club, an all-time top-seller from the digital asset company Yuga Labs that includes a fixed supply of 10,000 Ethereum-based NFTs, was the top-selling NFT collection in Q2, 2024. Over the past three months, the Bored Ape NFT collection generated a trading volume of $193 million.

2. Runestone NFT Collection

Runestone, an NFT minted by crypto influencer Leonidas consisting of 112,384 unique digital collectibles living on the Bitcoin network, was the second most-selling NFT collection in Q2, 2024. Over the past three months, the Runestone NFT collection recorded a trading volume of $144 million.

3. Doge-To-The-Moon NFT Collection

Doge-To-The-Moon, another non-fungible token collection from the crypto influencer Leonidas, was the third most-selling NFT collection in Q2, 2024. Over the past three months, the Doge-To-The-Moon NFT collection recorded a trading volume of $142 million.

4. Pudgy Penguins NFT Collection

Pudgy Penguins, an NFT collection from the toy brand Pudgy Penguins that includes a fixed edition of 8,888 NFTs hosted on the Ethereum blockchain network, was the fourth most-selling NFT collection in Q2,2024. Over the past three months, the Pudgy Penguins NFT collection generated a trading volume of $138 million.

5. Mutant Ape Yacht Club NFT Collection

Mutant Ape Yacht Club, another non-fungible token collection managed by Yuga Labs that features a limited supply

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