NFT trading volume up 700% in Q3

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NFT trading volume up 700% in Q3

Q3 is over already and that means that a lot of interesting figures are coming out about the past quarter. So too for crypto.

You can hardly have missed it in recent months, but NFTs have made a huge advance in the world of crypto. So it is also evident from these figures. In the past quarter, the total trade volume of non fungible tokens has increased by 700%. Huge figures.

NFTs in Q3

A total of $10.67 billion worth of NFTs were traded around the world in the third quarter. So that’s over 700% more than in the previous quarter. These numbers are very impressive, but when you compare last quarter to Q3 of 2020, it becomes even more impressive. In fact, looking at the past year, the trading volume of NFTs experienced an increase of a whopping 38,000%.

In the third quarter, Axie Infinity also officially became the most traded NFT collection of all time with a total trading volume of a whopping $2 billion. This makes it not only the first NFT collection, but also the first dApp to hit these kinds of numbers.

NFTs have had incredible months. So not only were they traded more, but prices have also increased dramatically. In the past few months, and especially in August, record after record was broken when looking at the selling price of NFTs. Also, more and more celebrities and big companies started to “get involved” in the world of NFTs. For example, financial institution VISA bought its own Crypto Punk.

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Disclaimer: Trading and investing in cryptocurrencies (also called digital or virtual currencies, altcoins) involves a substantial risk of loss and is not suitable for every investor. You are solely responsible for the risk and financial resources you use to trade crypto. The content on this website is primarily for informational purposes and does not constitute financial advice.