While bitcoin (BTC) and altcoins have of course risen sharply in the first quarter of this year, non-fungible tokens (NFTs) have also risen in popularity again. At the beginning of March you could already read in the NFT news that the trading volume of NFTs in February had increased to the highest volume since the Terra (LUNA) crash of May last year.
NFT trading volume doubles in Q1
From one March 30 report from blockchain analytics firm DappRadar shows that there was $4.7 billion in NFT trading volume in the first three months of this year. This was more than double the previous quarter.
DappRadar pointed out bullish promotion from the Blur marketplace, which launched in October 2022. Blur launched the airdrop of the BLUR token.
The $4.7 billion came from 19.4 million NFT sales in the first quarter, an increase of 8.56%, with total volume up 147% compared to the $1.9 billion recorded in the last quarter of 2018. 2022 was observed.
The network of Ethereum (ETH) accounted for a whopping $4.1 billion in volume. Solana (SOL) is in second place with $242 million in contributions and Polygon (MATIC) takes third with $85 million for the quarter.
Trump NFTs rise after indictment
Former US President Donald Trump has been charged with his role in the hush money affair surrounding porn actress Stormy Daniels. Remarkably, the floor price of his NFT collection launched in December following this news.
According to data from OpenSea traders were seemingly spurred into action by the announcement, with the floor price rising from 0.46 ETH to as much as 0.6 ETH on the same day. At the current ETH price, you would therefore pay almost $1,100 to get your hands on a Trump NFT. At the time of writing, the floor price has dropped again to 0.48 ETH. However, the price is still well above the original mint price of $99 in December.
In addition to being collectibles, the NFTs also offer opportunities to meet the former president during exclusive one-on-one experiences, such as private golf sessions, dinners and talks with Trump. News of the indictment could potentially impact Trump’s ability to live up to the experience.
