Crypto analytics platform IntoTheBlock is revealing that the number of non-fungible token (NFT) collections has risen dramatically in the first four months of 2022.
In a new tweet, IntoTheBlock says that the number of NFT collections on the Ethereum (ETH) blockchain has more than doubled since the year started, from around 40,000 to a total of over 80,000.
“The number of NFT collections in ETH has increased by 104.5% just in 2022.
There are now a total of 80,300 collections.”
There were a total of 39,250 NFT collections at the start of the year. Year-over-year, the number of NFT collections has soared by over 380%. In April of 2021, there were 16,500 NFT collections in existence, according to IntoTheBlock.
The number of Ethereum addresses holding NFTs, on the other hand, has risen from 3.35% at the beginning of the year to 4.64%.
IntoTheBlock also says that the total volume of NFTs traded surged by more than 220% from $16.94 billion to $54.86 billion since the year began. The trading volume so far this year is equivalent to NFTs worth more than 18 million Ethereum.
“The total volume traded by NFTs has recently surpassed 18 million $ETH with an aggregate value of more than $54 billion.”
Over the past 30 days, the Bored Ape Yacht Club was the most valuable NFT collection with a market capitalization of slightly over $3 billion, according to IntoTheBlock.
The Bored Ape Yacht Club is a collection of 10,000 Ape digital collectibles on the Ethereum blockchain. These NFTs also double up as membership to a “swamp club for apes.”
CryptoPunks is the second most valuable NFT collection on the Ethereum blockchain. The CryptoPunks collection is limited to 10,000 and currently boasts a market cap of approximately $2.57 billion.
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