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Huobi NFT Monthly Report

Validated Venture

Summary of NFT market views in February：

1. Trading volume：With the introduction of Blur, the NFT market on Ethereum has surpassed $2.5 billion in February’s trading volume.

2. Market sentiment：Average trading volume per capita and monthly trading volume are greater than that of Jan 2023 and Dec 2022, indicating an increasing interest from communities and a revival of NFT market.——The trading volume of the NFT market on Ethereum increased enormously to $ 2,487,837,067 that 347,236 users closed 2,190,642 transactions, hitting a monthly record since May 2022, and an increase of 200% compared to Jan 2023.

3. The disruptor — Blur: The success of $BLUR has highlighted the significance of new NFT projects and platform on the overall market performance and user participation.——Most of the trading volume can be credited to Blur since the launch of $BLUR on Feb 14. Daily trading volume on the NFT market of Blur has exceeded $47 million; it reached the peak of $114 million on Feb 22. In the past week, the weekly trading volume reached $536 million.

4. Bitcoin NFT: NFT in the Bitcoin eco is revitalized with stronger momentum, the value discovery is gradually unveiled. The market cap of NFT in the Bitcoin eco is expected to reach $4.5 billion by 2025.

5. Blue-chip NFT: Top blue-chip NFTs are still undervalued, where opportunities lie within.

For the full version of the report, please view and download it from this link here.

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