NFT Trading Volume for May on Track to Fall Below $1 Billion, Despite Increase in Active Wallets

The NFT market is experiencing changes, with different metrics indicating varying levels of success. DappRadar's recent report shows that NFT trading volume for May is currently at $333 million, which may fall below $1 billion for the first time this year.

However, there has been a notable increase in the number of weekly active wallets interacting with NFTs, with 2.3 million sales executed so far this month. Ethereum continues to lead the NFT market in trading volume, but other blockchains like Solana and Polygon have a higher number of NFT sales.

Trading volume remains an important metric, but it should be considered in context and with an understanding of the type of NFT being traded.

DappRadar

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