Trade’s Newest: Ethereum Dominates Buying and selling, Optimism Emerges as New Hub, BendDAO Leads in Holdings

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Key takeaways:

The Ethereum NFT market is booming and has exceeded $231 million in weekly buying and selling quantity.There was a shift within the varieties of NFTs which might be being traded and the platforms which might be getting used to commerce them.The Optimism blockchain is changing into a preferred platform for creating and buying and selling NFTs.BendDAO NFT liquidity protocol is changing into a significant participant within the NFT market.

Up to now couple of weeks, the NFT market noticed a surge in buying and selling quantity for non-fungible tokens (NFTs) on the Ethereum blockchain. The weekly buying and selling quantity for NFTs on Ethereum has exceeded $231 million, indicating a robust and rising marketplace for these distinctive digital belongings.

The Ethereum NFT market is shifting by way of buying and selling patterns. Whereas the general market stays sturdy, there was a shift within the varieties of NFTs which might be being traded and the platforms which might be getting used to commerce them.

The Optimism blockchain has seen a major improve in NFT mints in current months, with over 100K NFTs in a single day, indicating that it’s changing into a preferred platform for creating and buying and selling these distinctive digital belongings.

The NFT lending ecosystem has seen important progress in current months, with weekly borrow quantity rising from $5.2 million to $23.4 million since October 2022. BendDAO has emerged as a key participant on this ecosystem, accounting for 40% of the full quantity and holding over 423 MAYCs and 94 Doodles NFTs as collateral. The current deposit of 154 Bored Ape Yacht Membership NFTs additional solidifies BendDAO’s place as a robust participant within the NFT lending market.

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