Ethereum NFT market cap shrank 59.6% in 2022, NFT trading volume jumps 38% in January

The full marketplace headdress of the NFT collections deployed connected Ethereum (ETH) recorded a 59.6% driblet successful 2022, according to a DappRadar report.

The aggregate marketplace headdress of the ETH-based NFT projects started the twelvemonth 2022 astatine $9.3 cardinal and ended astatine $3.7 billion, according to the report. However, numbers from January bespeak that the NFT marketplace started to flourish, which includes ETH-based NFTs.

Yuga Labs

ETH has 81 NFT collections deployed connected its chain. The numbers bespeak that Yuga Labs NFTs relationship for 67% of the full NFT marketplace headdress connected the ETH chain.

Yuga Labs see fashionable NFT collections similar CryptoPunks, Bored Ape Yacht Club (BAYC), Bored Ape Kennel Clum (BAKC), Mutant Ape Yacht Club (MAYC), Meebits, and Otherdeeds for Otherside.

Together, CryptoPunks and BAYC relationship for 46.7% of the full ETH NFT marketplace cap. BAYC, with a level terms of $98,438, recorded a $49 cardinal trading measurement successful January.

NFTs successful January

In January, the NFT trading measurement recorded a 38% maturation from astir $700 cardinal successful December 2022, according to different study by DappRadar. The existent trading volume, $946 million, marks an all-time precocious since June 2022. NFT income number besides accrued from 6.7 cardinal successful December to 9.2 cardinal successful January, reflecting a 42% growth.

Top NFT Blockchains (Source: Glassnode)

ETH besides ranks archetypal successful the highest NFT trading volume. The chain’s trading measurement recorded a 37% summation from $480 cardinal successful December 2022 to $659 cardinal successful January.

Solana (SOL) and Polygon (MATIC) followed ETH arsenic the 2nd and 3rd with $85 million, and $46 million, respectively. While SOL recorded a 23% summation from December’s $69 million,  MATIC stood retired by signaling the third-highest maturation complaint of the period with 124%.

Avalanche (AVAX) and Tezos (XTZ) recorded the archetypal and second-largest monthly maturation rates, with 451% and 150%, respectively. Immutable X (IMX) and WAX (WAXP) blockchains, connected the different hand, recorded -3% and -32% decreases successful January, respectively.

The station Ethereum NFT marketplace headdress shrank 59.6% successful 2022, NFT trading measurement jumps 38% successful January appeared archetypal connected CryptoSlate.