Nfts
Magic Eden NFT Marketplace Surpasses Blur in Trading Volume
In April, Magic Eden ranked first among NFT marketplaces in terms of trading volume.
According to a report from DappRadarMagic Eden reached $486 million in trading volume last month, with Blur losing the lead for the first time since launch, trailing by $108 million.
Experts linked platform performance to support for Ordinary – trading tokens issued using the protocol represent 70% of market volume.
Source: DappRadar
Other factors include the new Diamond rewards program and Magic Eden’s continued partnership with Yuga Labs, a leading NFT studio.
Analysts believe that the popularity of collectible digital assets on Bitcoin, such as ordinals and runes, was highlighted by the fact that UniSat and OKX NFT Marketplace entered the top five trading platforms in the segment in April.
“Interestingly, OpenSea continues to lose ground in terms of trading volume and appears unable to keep pace with its competitors. It remains to be seen how this trend will evolve, and it will be fascinating to watch in the months to come.
DappRadar Report
In terms of collections, Runestone took the lead, displacing the Bored Ape Yacht Club from first place.
In addition, the total trading volume of NFT collections on Bitcoin rose 32% over the month, reaching $675 million, placing the Bitcoin blockchain in second place in trading volumes after Ethereum.
DappRadar experts highlighted Blast’s growing popularity, saying the network attracts traders by farming points for the future. airdrops associated with Blur’s new deployment on the protocol.
According to DappRadar, the total NFT trading volume in April was $1.35 billion, 13% lower than the previous month. The downward trend towards the billion dollar mark has been regularly observed since December 2023.