OpenSea monthly volumes top $5B as NFTs continue to mainstream

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Over the past two weeks, Azuki, Bored Ape Yacht Club, CloneX and Mutant Ape Yacht Club have raised their minimum prices and total sales significantly. According to OpenSea, all four projects have raised about $365.9 million in just the past seven days.

As the crypto market recovers from a prolonged carnage, non-fungible tokens (NFT) markets such as LooksRare and OpenSea are steadily generating around $100 million in total daily volume.

LooksRare vs. OpenSea Daily Volume. Source: Dune Analytics.
crypto-twitter appears to be expressing speculation about the recent market surge of blue chip momentum, while others are hoping their holdings will make their upcoming Super Bowl participation a highlight of their portfolio.

While it may be a combination of the two, NFT projects are also gaining traction thanks to the latest developments, with constant leaks raising the average daily price per set. Data shows that the top five groups have raised their average daily price by at least 5%, and Azuki has seen a staggering 55% increase in the past seven days.

Adzuki averages 7 days. price / volume. Source: OpenSea Azuki
Collectors prefer eating red azuki beans.
The Azuki NFT group entered the ecosystem by hinting at The Matrix with its version of the red bean, calling it red bean. Red Bean ends up as a cartoon-style avatar that gives users access to the Azuki Garden. The animation collection appears to be long overdue as it continues to attract art and tradition collectors.

According to Dune Analytics, the price of the Azuki floor has risen from 4.29 ETH (ETH) to the current 11.29 ETH since the reveal on January 21, 2022, which is a 163% increase.

Azuki OpenSea daily volumes and transactions. Source: DuneAnalyticsCryptano
The number of unique wallets containing Azuki also grew significantly, and the reveal date was an important factor. The top 50 Azuki wallet holders show that there is a large number of collectors, with over 150 NFTs stored in the top wallet.

The project’s ability to capture the attention of collectors has greatly contributed to Azuki’s success. However, critics seem to be doing a reality check by comparing the project to another anime-inspired group, 0N1 Force, whose bubble quickly burst after following a price trajectory similar to Azuki.

Society members, perhaps biased, disagree and say that the difference between the two teams is day and night. Time will tell whether Azuki continues to grow and maintains its top spot on the charts by volume, or how quickly it can recover from the inevitable correction.

CloneX aims to be number one in total sales
CloneX with Takashi Murakumi, created by RTFKT Studios, is up 381% in the past week. The lowest price is 17 ether ($47,158), but buyers are still flocking to the pool.

Although studio RTFKT was acquired by NIKE, this team didn’t stop at bringing the community together. For example, this week RTFKT shared news of two NFT airdrops this week, proposing “Chapter 2 of szn airdrops.”

In light of these teaser tweets from RTFKT, CloneX owners are anxiously awaiting what might be scrapped and preparing to take a shot on Thursday, February 3, 2022. RTFKT Studios will reward owners of all parts of the set, including CloneX bottles, avatars, and space capsules.

Monkeys Rise Above 100 ETH
3LAU is the creator of the shared story for the entire NFT ecosystem, and the artist struck again when he bought the last boring monkey before the project hit 100 ethers.

After the historic sale, singer Justin Bieber “fake” the purchase of a 500 Ether BAYC floor, much to the annoyance, frustration, and confusion of some owners.

Source: CoinTelegraph

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