A recent report by blockchain analytics firm Chainalysis indicates that NFT activity has slowed in 2022, with growth beginning to pick up again since mid-April. The document also said the increased interest came from retail investors. As you can see, the number of small transfers has increased.
NFT activity stable in 2022
With impressive growth in 2021 ending in November, the NFT market then entered a downtrend with a broader market from January to March.
as shown in transaction volume Trading activity began to recover from mid-April to May 1, with collectors transferring a total of more than $37 billion to the NFT market in 2022, just 3,000 less than the total volume stated in 2021. millions of dollars according toreport Latest of Chainalysis
The report states that total transaction volumes had bottomed in the week of March 13 and soon recovered with the launch of the Bored Ape Yacht Club metaverse that has attracted massive funding from institutional investors.
“Although transaction volume fluctuates But the number of active NFT buyers and sellers continues to increase.”
NFT’s growth trend is also reflected in the increasing number of active addresses, with 950,000 unique wallets buying or selling NFTs in Q1, up from 627,000 in Q4 last year. Additionally, the number of new NFT addresses reached 491,000 by the first month of Q2, indicating that the number of participants continues to trend quarterly growth.
The report also found that most transactions were under $10,000 for digital assets. meanwhile Whale-level transactions between 10,000 and 100K were halted in the first quarter. However, “during the week of October 31, 2021, institutional transfers accounted for 73% of total activity. Mainly from multiple NFT purchases in the Mutant Ape Yacht Club collection.”
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