Month-to-month buying and selling quantity of NFTs in December broke an 8-month streak of declines in 2022, rising 13% from November to $549.5 million, in line with The Block’s information dashboard.
The rise is “probably a mixture of tax loss harvesting and a revitalization of standard narratives round among the blue-chip PFP initiatives, most notably Yuga Labs, given their upcoming ‘Trial of Jimmy the Monkey’ occasion,” says Thomas Bialek from The Block Analysis.
Regardless of the month-over-month enhance, buying and selling volumes are nonetheless only a fraction of what they have been a 12 months in the past, with December of 2021 seeing round $2.8 billion of exercise.
NFTs did see some hopeful moments in 2022, even with the downturn. An NFT benefitting WikiLeaks founder Julian Assange bought for $52.7 million in February, whereas NFTs from Yuga Labs additionally topped the most costly NFT gross sales final 12 months.
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