NFT Trading Volumes Surge Post Elections: Weekly NFT trading volumes experienced a remarkable rise, hitting 172 million USD by December 2, 2023. This recovery follows the U.S. Elections and reflects increased activity among the top 25 NFT collections, signaling a positive trend in the market.
Leading Marketplaces Drive the Recovery: MAJOR marketplaces like OpenSea and BLUR dominate this resurgence, holding a combined 87% of trading volume. Their success indicates an increased demand in the NFT space and could suggest a recovery within the entire cryptocurrency market.
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