NFT Market Rebounds: Sales Surge to $945M in January

Share This Post

NFT sales have hit an all-time high since the bear market of June 2022, with a remarkable 42% surge in the past month

The NFT market has started strong in 2023. Last month, sales of such digital assets totaled more than $945 million in January alone — a 42% increase from December 2022.

Quick Take: 

  • Data from DappRadar shows that NFT January sales are the highest since before the bear market hit in June 2022.
  • The report indicates that NFT trading volume has increased by 42% in one month.
  • Most NFTs are acquired from the Ethereum blockchain (as usual). However, Polygon and Solana are just a little behind.
  • Polygon alone reported a 124% increase in NFT trading volume just last month.
NFT Market
Edited graph from DappRadar

The NFT Trading Market Booms 

The NFT trading market witnessed sales hit a high of $945 million in January — the most robust performance since before the bear market of June 2022, according to research from DappRadar.

Ethereum continues to dominate blockchains used for NFTs, with all-time sales last month reaching $36 billion. However, Solana and Polygon are close behind, with Polygon seeing a 124% surge in NFT trading volume in January.

The industry is getting back on track, with the DeFi niche also rising 26.8% in total value between December and January.

As a result, 2023 is, without a doubt, looking to be more successful for the NFT market.

NFT newbies wanting to catch this year’s bull market should check out this “Ultimate Guide to NFTs for Dummies“.

Subscribe to the NFT Lately newsletter to receive news covering the latest NFT-related drops, releases, reviews, and more.


Related Posts

Jungle Metaverse: XLABEL and X2Y2 to Launch Tarzan NFT Collection

XLABEL, the digital fashion studio, and X2Y2, the Ethereum...

DeadFellaz Unveil New IP Extension, ‘Front Facing Fellaz’

Deadfellaz is constantly broadening its repertoire of resources and...

Lil Durk’s Phygital Shoes are Coming and They Look Amazing

Platinum recording artist Lil Durk steps into the tech...

Bored Apes Invite Other NFTs to Embark on the Otherside

Yesterday, Yuga Labs released a roster of PFPs eligible...

IRS Seeks Public Input on Taxing NFTs as Collectibles

US citizens wanting to boost their retirement funds by...

Bored Apes Showcase at the Louvre, Mark History

Despite recent dramas over not showcasing Claire Silver's non-fungible...

Related Posts

The Ultimate Guide to NFT for Dummies [2022 Guide]

NFTs are collectible items that can represent digital content,...

Sony to Introduce NFTs into PlayStation Games

According to a recent patent published by Sony Interactive...

Bored Ape Yacht Club Open First Edition Animated Comic Series

Just before the launch of Bored Ape Yacht Club's...

Yuga Labs Unveils Revolutionary HV-MTL NFT Collection

Yuga Labs launched the HV-MTL NFT collection of 30,000...

Bored Ape Yacht Club Review | 2023 Guide

An in-depth Bored Ape Yacht Club Review Guide. Everything you need to know about Bored Ape Yacht Club NFT Collection.

NFTs and Crypto: The Differences for Web3 Novices

NFTs are singular and unique and not interchangeable like...