NBA Top Shot Sees 50% Rise in Activity Over Last Week

NFT marketplace NBA Top Shot has seen an uptick in activity over the last week. According to DappRadar, over 70,000 traders were actively buying and selling digital cards on the platform in the last seven days.

These numbers mark a 50% rise in activity compared to the previous weeks. While the sales of the trading cards had lulled recently, the current spike could mark NBA Top Shot’s revival.

NBA Top Shot continues to rank high

Since its launch in 2019, NBA Top Shot has remained a favorite among NFT enthusiasts. It has amassed over $700 million in total sales in under a year. Moreover, in the past seven days alone, it raked in over $8 million, marking a 67% increase in volume.

Furthermore, thanks to the digital cards’ popularity, NBA Top Shot has gained a foothold on DappRadar’s rankings. It ranks three in the list of top 10 of the most active NFT marketplaces. It is surpassed only by OpenSea and Axie Infinity in terms of activity and volume traded.

In addition, the NBA Top Shot collection itself is holding value. Last week, it rose to the third position in the top 10 NFT collections ranking. This indicates a significant improvement in its performance compared to the previous week.

The latest uptick in activity can be attributed to the current NBA 2021 playoffs. In addition, NBA Top Shot had also recently announced its first “Playoffs Pack” for the 2020-2021 season.

The latest developments bring much-needed relief to the platform after witnessing a lull in activity recently. Between March and April, the platform’s sales had dipped by 137.9million. Furthermore, last month, a user had sued the platform for selling unregistered securities.