NFT market erupts with $2 billion trading volume in February: Report

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The NFT market saw increased sales volume in February. OpenSea Polygon recorded an all-time high in monthly sales volume. The Non-Fungible Token [NFT] market continued to show vigorous growth and attracted a wider range of collectors. The ecosystem saw a substantial increase in trading volume in February, a new report from DappRadar revealed. According to […]

traded Polygon-based NFTs worth $109 million in February, causing the monthly sales volume to rally to an all-time high.Sales volume for Ethereum-based NFTs also jumped to the highest level since the year began. Per Dune Analytics, the monthly sales volume totaled $647 million, a 45% rally from the $446 million recorded in January.The jump in the sale of Polygon-minted NFTs on OpenSea was due partly to the rise in the number of traders.

Another point of disparity between Polygon-based NFTs and Ethereum-based NFTs on OpenSea in February was the count of NFTs sold. Data from Dune Analytics showed that OpenSea Polygon NFTs saw its monthly sales count increase by 15%. However, the number of Ethereum-based NFTs sold on OpenSea declined by 28% within the same window period.While Ethereum retained its 83.

 

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