Transactions had a total value of $5.5 million!
NBA Top Shot has seen the most trading activity on their marketplace ever, setting a record of 77,338 transactions on Tuesday, February 16th. That’s a number that beats the previous record of 55 thousand transactions by a landslide.
Despite the strong increase in activity, the NFT marketplace did not break the record for the value that was transacted. This Tuesday there was $5.5 million in transactions, while January 24th recorded $6.3 million.
This new peak in transactions for NBA Top Shot comes all of a sudden, as the platform has seen daily activity between 17 and 30 thousand transactions in the past few weeks. However, it goes hand in hand with more mainstream interest, as Forbes and VICE recently wrote about NFTs.
NBA Top Shot launched in October 2020 and has had 76 million dollars in sales according to data from Cryptoslam. However, 90 percent of the sales happened in the past 30 days, that’s 69 million dollars.
NFTs gaining traction among a wider audience
NBA Top Shot is just one of many NFT projects gaining traction. In the past 24 hours, digital collectibles like CryptoPunks and Bullrun Babes have been responsible for more than 5 million dollars in trading volume, according to data from DappRadar.
At the same time marketplaces like OpenSea, where NFT projects like Hashmasks do the majority of their secondary market sales, flourish. In the past 24 hours, OpenSea has seen 4.6 million dollars in trading volume.
According to the NFT Marketplaces data from DappRadar, the number of traders on prominent marketplaces is up from 1600 on January 1st to 26.700 on February 16th. At the same time, trading volumes increased from $540.000 to more than $15 million in just six weeks.