Affected by the abnormal activity of CryptoPunks (false prosperity?) this week, the total amount of NFT market transactions increased by 119.73% from the previous month.
NFT market
Market overview
According to NFTGO data, this week (October 23-October 29), the market value of the NFT market increased by 13.28% month-on-month. The total number of addresses held increased by 6.11% month-on-month, both of which increased from last week’s growth. At present, there are 13162199 NFTs in circulation in the market, an increase of 152194 NFTs in circulation from last week, which belong to 601405 addresses. In the past 7 days, a total of 47,805 users have participated in NFT transactions, and a total of 66,361 transactions have occurred.
This week, the market showed a seller’s market in the early stage and turned into a buyer’s market after 27 days. At present, there are more buyers than sellers in the market, presenting a buyer’s market. In addition, the number of active addresses in the NFT market decreased by 16.82% from the previous month. Active addresses accounted for 22% of the total addresses held in the market, and market liquidity remained the same as last week.
NFT market statistics, data source: NFTGO
Market transaction data
This week, the trading volume of the NFT market dropped by 26.60% from the previous month, but due to the activity of CryptoPunks this week, the trading volume increased by 119.73% from the previous month. The trading volume and total trading volume change trends on the 27th of this week are consistent, and the changes in the trading volume on the 27th are mainly driven by transaction prices rather than transaction volume.
Trend chart of the total amount of transactions in a week in the NFT market, data source: NFTGO
NFT market one week trading volume trend chart, data source: NFTGO
Subdivision of track liquidity
From the perspective of liquidity, the overall NFT liquidity this week was the same as last week. The social concept NFT works in the subdivision track occupied the top for three consecutive weeks, but the liquidity declined compared with last week, which was 3.69%. Collectible NFT works. Ranked second this week with a liquidity of 1.51%. The IP track, which ranked second last week, ranked third this week with a liquidity of 0.87%.
NFT market segmentation track one week liquidity statistics, data source: NFTGO
NFT project ranking
Weekly turnover ranking
According to Nansen data, the top two with the highest turnover in the past week were all established NFT projects. The NFT with the highest turnover was CryptoPunks. Although only 87 transactions were traded, due to the price advantage, the total turnover in the past week reached US$573,626,153.04, an increase from the previous week. 1663.35%, accounting for about 70% of the total transaction volume in the NFT market. The current highest transaction price is 529,738,887.39 US dollars, and the average transaction price is 223,449.82 US dollars. The entry barrier is relatively high. And the transaction volume and the transaction volume change in the opposite direction, and the main change of the transaction volume comes from the transaction price. Liquidity has rebounded from last week, at 0.85%. At present, both buyers and sellers in the market are flat, but the number of buyers is growing faster than sellers, and the willingness to hold the market is higher.
NFT market’s weekly total transaction rankings, data source: Nansen
Weekly liquidity ranking
The most liquid project in the past week was Z-Huge, with a liquidity of 127.54%. HeadDAO, the most liquid project last week, ranked sixth this week, with a liquidity of 45.02%. Doodles, which ranked second in liquidity last week, ranked eighth this week. The top three NFT projects on the liquidity list this week were all listed within a week. So far, the average transaction price of Z-Huge is US$4,097.87. The current highest transaction price is US$25,304.02 and the lowest transaction price is US$687.69. A total of 653 transactions have been completed in the past seven days. The current transaction volume is in a downward trend, and there are more sellers than buyers in the market, which is a buyer’s market.
Z-Huge is a generated art NFT collection project. The total number of NFTs is 512. At present, the primary market has been sold out and can be purchased on OpenSea. There are 297 holders on OpenSea, and the floor price is 0.65ETH.
NFT market’s weekly liquidity ranking, data source: NFTGO
Weekly trading volume ranking
The NFT project with the highest number of transactions in the past week was Boonji Project, with a total of 5,206 transactions, accounting for about 11% of the total number of transactions in the NFT market. The highest number of transactions was set on October 23. A total of 3,382 people participated in the transaction. The market continued to be a seller’s market, with more buyers than sellers, but the growth rate of sellers was higher than that of buyers, and the gap between the two parties was gradually narrowing.
The average transaction price of Boonji Project is US$2,417.59, and the current highest transaction price is US$39,775.65. At present, there is a giant whale in the Boonji Project market (the account holding Boonji Project has a market value of over one million), the address is 0xC3bAA0…7a71, the account holds 589 Boonji Projects, and a total of 1,110 NFTs.
The Boonji Project was created by artist Brendan Murphy, with a total of 11,111 projects. The Boonji Project will be publicly available for sale on October 21. The sale will be in the form of a Dutch auction. The initial price is 3.3 ETH, with a decrease of 0.1 ETH every five minutes. It is currently available for purchase on OpenSea, and the floor price is 0.379ETH.
NFT market’s weekly trading volume ranking, data source: NFTGO
NFT works
Among the NFT works with the highest turnover in the past week, CryptoPunks accounted for 90% of the top ten. The most expensive NFT is CryptoPunks #9998 ($529,738,887.39), purchased from 0xef764B…F8dB address on the 29th, but the transaction involves large flash loans and at least two contracts, Flashbots product manager Robert Miller analyzed that the transaction was not a real transaction, and was more like an act of creating marketing effects on Twitter. And the NFT will be transferred back to the original selling address within two hours after the sale.
CryptoPunks#1422 (US$2,006,270.31), occupying the second place in the ranking, was purchased from the address 0xda5921…E67d on the 27th. There is only this 1 NFT in the buyer’s wallet. The only Bored Ape Yacht Club #820 (US$859,412.66) among the NFT works with the highest turnover in the past week this week was purchased by 0xF50791…93Ab on the 24th. The buyer’s wallet contains a total of 161 NFTs, including 23 different NFT type, valued at over 8 million. In addition, CryptoPunks#7331 ($924,531.81), the sixth place on the list of the highest turnover this week, was also purchased from this address on the 24th.
NFT ranking with the highest turnover in a week in the NFT market, data source: NFTGO
Giant Whale Ranking
In the past week, there were 602 NFT giant whales with holdings valued at US$1 million in the NFT market, and holdings of NFT valued at more than US$2 billion.
Among the most popular NFTs for giant whales in the past week, the number one was still Art Blocks, with 20 giant whales choosing to buy it, and the second ranked NFT was Bored Ape Yacht Club, with 16 giant whales choosing to buy it. CryptoPunks, the NFT project with the highest turnover this week, ranked third, with 15 giant whales choosing to buy.
The top address of the giant whale ranking list is 0xdF370D…7C44. I spent $1,215,864.16 this week to purchase two NFTs, namely Bored Ape Yacht Club #8295Bored Ape Yacht Club#211. And CryptoPunks#7569 in the ranking of NFT works with the highest turnover this week was purchased by the fourth-ranked giant whale 0x538285…66BC.
Ranking of giant whales in NFT market, data source: NFTGO
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