The OKX NFT market is blurring and open seas at the peak of daily trading.
Crypto exchange OKX's nonfungible token (NFT) arm has surpassed the 24-hour trading of popular NFT marketplaces such as OpenSea, Blur and Magic Eden.
On December 18, the OKX NFT marketplace recorded a daily transaction volume of $50 million around 10:00 am UTC, according to the decentralized application (DApp) Dapradar Dapradar.
As of this writing, the platform's trading volume has dropped to $35 million. However, the OKX NFT marketplace is still ahead of competitors Blur, Magic Eden, and OpenSea, which have a combined 24-hour trading volume of around $24 million.
NFT Marketplace Trading Volume Soared As Bitcoin Ordinals Offered Trading. According to data from NFT tracker CryptoSlam, the Bitcoin network had a week with $367 million in trading volume, $91 million more than Ethereum and Solana, which had a combined weekly trading volume.
Guess which #Bitcoin NFT collections are in the gallery ________________╱| ______________ ╱|| || || |️| || || ||╱ ￣ ￣￣￣ ￣ |╱￣
— OKX (@okx) December 18, 2023
The change in Bitcoin NFTs sales volume came as on December 12, the Bitcoin network had a daily NFT sales volume of $24 million, followed by Ethereum at around $16 million and Solana at $6 million.
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In addition to Bitcoin Ordinals, the broader NFT space has bounced back, with the space's collective size approaching $1 billion in November. During that month, the average price of NFT trades increased by 114%, from $126 to $270, suggesting that users are willing to make higher value trades than in previous months.
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