NFT Evening NFT Evening
    Facebook Twitter Instagram Reddit
    NFT Evening NFT Evening
    • News
      • Collectibles
      • Crypto Art
      • Blockchain games
      • Metaverse
      • Music
      • Interviews
    • Guides
      • Top NFT Projects
      • Top Blockchain Games
      • NFT Marketplaces and Tools
    • Learn here!
      • What is an NFT?
      • How to keep your NFTs safe
      • NFT Glossary
    • NFT Calendar
      • NFT Drops
      • NFT Conferences
      • NFT Launchpad
    • Newsletter
    NFT Evening NFT Evening
    News

    Home » News » Monthly NFT trading volume reaches an insane $6 billion in January alone

    Monthly NFT trading volume reaches an insane $6 billion in January alone

    By Janelle BorgJanuary 29, 2022Updated:February 2, 20232 Mins Read

    The Block Data Dashboard reported that NFT trading volume has already reached $6.13 billion this month alone. Therefore, the NFT volume grew 129% in January 2022 compared to December 2021.

    nft trading volume
    Monthly NFT volume has exceeded expectations after growing 129% in the first month of 2022

    Many in the NFT space correlate this growth to the launch of LooksRare. LooksRare is a new NFT marketplace that launched on January 10th. Despite being a new platform, it’s already standing out from the crowd and becoming a serious contender in the NFT space. 

    LooksRare poses a threat to OpenSea – the world’s largest NFT marketplace. Recently, the latter has been hit by a series of mishaps that have negatively impacted its user base. On the other hand, LooksRare is becoming an attractive OpenSea alternative due to its LOOKS tokens. 

    Creators, traders, and collectors are eligible to earn LOOKS tokens. This is because LooksRare users earn LOOKS tokens when buying and selling NFTs. Additionally, they can earn rewards by staking the token on the LooksRare. 

    Despite this positive growth, The Block Research pointed out that the majority of the new NFT marketplace’s trading volume is due to wash trading; a form of market manipulation in which an investor simultaneously sells and buys items to drive up volume and prices. 

    Aside from Ethereum marketplaces, the total NFT sales on Solana exceeded $1 billion in all-time volume. Meanwhile, Coinbase is getting in the game by creating its own NFT marketplace. Its soon-to-be-launched NFT marketplace is highly anticipated by NFT enthusiasts; especially after Coinbase announced its partnership with Mastercard, which enables anyone with a Mastercard card to buy NFTs. 

    Join Our New "To The Moon" daily Newsletter

    Get our free, 5 minutes daily newsletter. Join 25,000+ NFT enthusiasts & stay on top 👊🌚

    Thank you!

    You have successfully joined our subscriber list.

    .

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    Previous ArticleGwyneth Paltrow just bought a Bored Ape NFT, thanks to MoonPay
    Next Article You can buy NFTs with your bank card now with MoonPay and Immutable X
    Janelle Borg
    • Website

    Janelle is a freelance content writer with a passion for all things related to music, marketing and tech. She looks forward to bringing you more news relating to the fast-paced world of Crypto and NFTs from her home office in Brighton.

    More great NFT Evening content:

    Oops! NFT collector accidentally burns rare CryptoPunk

    March 27, 2023

    NFT Inspect set to make a comeback after unexpected shutdown

    March 27, 2023

    Solanaland Announces Public Pre-Sale of $SLAND DEEP Tokens

    March 27, 2023

    IRS Seeks Public Opinion on NFT Tax

    March 27, 2023

    CapitaLand Launches Epic Metaverse Event: CapitaVerse 2.0

    March 27, 2023

    Cancelled Sotheby’s NFT Auction Highlights Need for Diversity and Representation

    March 27, 2023

    Lazy Lions and OpenSea Team Up for Exclusive NFTs

    March 27, 2023

    ArtBlocks Announce Next Curated Release: Cargo by Kim Asendorf

    March 26, 2023
    Latest NFT News

    Oops! NFT collector accidentally burns rare CryptoPunk

    March 27, 2023

    NFT Inspect set to make a comeback after unexpected shutdown

    March 27, 2023

    Solanaland Announces Public Pre-Sale of $SLAND DEEP Tokens

    March 27, 2023

    Balmain and Space Runners Partner For NFT-infused Unicorn Sneaker Line.

    March 27, 2023

    Sound.xyz Rolls Out Enhanced Mobile Experience for Music Creators

    March 27, 2023

    IRS Seeks Public Opinion on NFT Tax

    March 27, 2023

    CapitaLand Launches Epic Metaverse Event: CapitaVerse 2.0

    March 27, 2023

    Cancelled Sotheby’s NFT Auction Highlights Need for Diversity and Representation

    March 27, 2023
    Get The FREE Exclusive Report
    CLICK HERE

    NFTevening is the biggest website for NFT news. We cover; breaking news, upcoming mints, plus, interviews with top NFT artists and projects. Put simply, we are the best place for new and experienced non-fungible token fans — making content fun & accessible

    Privacy policy
    Terms and conditions

    Article Categories
    • Blockchain games
    • Collectibles
    • Columns
    • Crypto Art
    • Guides
    • Interviews
    • Metaverse
    • Music
    • News
    • NFT Marketplaces and Tools
    • Sponsored Content
    • Top Blockchain Games
    • Top NFT Projects
    NFT Calendar
    • Today’s NFT Drops
    • Upcoming NFT Drops
    • Solana NFT Drops
    • NFT Calendar
    • NFT Calendar : Add Your NFT Event
    Get In Touch
    • Advertise (Media Kit)
    • Job Opportunities
    • About Us
    • Contact Us
    • Newsletter
    NFT Beginners Guides
    • How to Sell NFT Art
    • How to Create NFT Art
    • How to Display NFT Art
    • How To Make Passive Income With NFTs
    • Best Crypto Wallet
    • Best NFT Coins
    • Best NFT Rarity Tools
    • What is a DAO ?
    • What Are Crypto Gas Fees ?

    Type above and press Enter to search. Press Esc to cancel.