In April, Magic Eden came out on top in terms of trading volume among NFT marketplaces with an indicator of $486 million. Blur lost the lead for the first time since launch, falling behind by $108 million, according to the DappRadar report.
Data: DappRadar.Experts linked the "breakthrough" of the platform with the support of Ordinals — trading tokens issued using the protocol occupies 70% of the market volume.
Other factors were the new Diamond incentive program and the ongoing partnership of Magic Eden with one of the leading NFT studios Yuga Labs.
According to analysts, the popularity of digital collectible assets on bitcoin (Ordinals and Runes) was highlighted by the fact that in April UniSat and OKX NFT Marketplace entered the top 5 trading platforms of the segment.
They also noticed that the OpenSea marketplace, which unconditionally dominated the market before the advent of Blur, continued to lose ground in April.
In terms of collections, Runestone became the leader, displacing the Bored Ape Yacht Club from the first line.
Data: DappRadar.The total trading volume of NFT collections on bitcoin increased by 32% over the month, reaching $675 million.
This brought the blockchain of the first cryptocurrency to the second place in terms of trading volumes after Ethereum. In this regard, DappRadar experts emphasized the growing popularity of Blast. The network attracts traders by pharming points for future airdrops related to the new deployment of Blur on the protocol, they believe.
The total trading volume of NFT in April amounted to $1.35 billion, which is 13% less than in the previous month. In general, the trend towards the $1 billion mark has been steadily observed since December 2023, DappRadar experts stressed.
Data: DappRadar.The number of sales increased by 20%, which experts again explained by the popularity of bitcoin-NFT.
Recall that a sharp surge in activity against the background of the launch of Runes, timed to coincide with halving, helped the network of the first cryptocurrency reach the mark of 1 billion processed transactions for all time.