Jan 10, 2024

A new report by VanEck shows that non-fungible token (NFT) volume rose 81% in December of 2023.

Video transcript

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day NFT volume rose 81% in December. That's according to a new report by Van Eck. What drove this job? The asset manager says rising BRC 20 trading on Bitcoin and a 328% increase in NFT volume on Solana are behind the staggering stats. The report says December was the first month where Solana NFT volume exceeded Ethereum. This can be credited to investors hoping that they're going to be eligible for future air drop if they hold on to some of the leading NFTS in the ecosystem. Now, despite impressive growth for Bitcoin and Solana Ethereum NFT volume was nearly stagnant, rising only 1% in December and while blur maintained its spot as the leading NFT exchange in the Ethereum ecosystem by volume, Bene says that blur's governance token blur underperformed the market. Well, NFTS make a comeback in 2024. It's looking pretty positive. I guess we'll have to just wait and see. That's a wrap for chart of the day. I'm Jen Sasi. We'll see you next time to unpack more of the data behind top news stories.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to coindesk.consensus.com to register and buy your pass now.