NFT Sector Keeps on Developing

by Paul Hoffman best brokers

An impending Fed rate hike was the hottest topic in early 2022. Shortly after, the start of the war between Russia and Ukraine sent global markets into the red even further. Not long after the LUNA crash continued and the cryptocurrency market plummeted.

Unfavorable events for the global economy continued, causing further damage to all crypto assets.Despite all the negative voices surrounding cryptocurrencies and multiple published analyzes culminating in the announcement of “Crypto Winter”, the NFT sector continues to develop at a good pace and our team best brokers We decided to use Dune Analytics to pull the raw data from the blockchain and present it visually.

for report Dune Analytics was used to run raw queries and analyze raw data from the blockchain. It also features unique his Ethereum NFT traders and a yearly and quarterly breakdown of the number of Ethereum NFT traders, as well as an expert opinion on his NFT trading activity overall.

Unique count Ethereum Blockchain Active NFT Traders Rise By 2022, the number will exceed 2.07 million. Despite the negative situation in 2022, the number of his NFT traders active on the Ethereum network surged by 276% compared to 2021.

Initially, deal numbers plummeted by 22.48% in the fourth quarter of 2022, but have recovered nicely in the first quarter of 2023, and this year already looks promising.

Despite falling prices for most cryptocurrencies and a significant drop in trading volumes, the number of unique active NFT traders on the Ethereum blockchain is expected to surpass 2.07 million in 2022, surpassing 2021 and 2021. increased to 276% in comparison.

The fact that NFTs have continued to attract traders’ attention during such a difficult time for the entire investment world means there is something special about this asset. As cryptocurrency prices are expected to rise only from this point onwards, NFTs will become even more mainstream, eventually bringing many young investors to the market.

Stable trading activity overall

Ethereum NFT trading activity initially surged to nearly 3 million in Q3 2021, hitting a record high for BTC and Ethereum. However, the trend has stabilized despite his 2022 upheaval, falling only in his 4th quarter of 2022 when Fed rates rose above 4% for the first time in 15 years. .

After a 22.48% plunge in deal numbers in Q4 2022, it is still recovering in Q1 2023 and as of March 15, 2023, the current Q1 deal numbers are It’s already increased by 6.65%.

Such steady activity only strengthens hopes that NFTs will become one of the most popular trading instruments in the future, despite the most turbulent year in the history of cryptocurrencies and global markets. Over the past year, we’ve seen the retail investor’s power in the rise of so-called “memetic stocks,” and now we’re seeing it in his NFT deals.

– BestBrokers analyst Alang Goldberg said:

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