In the wake of a seeming resurgence within the cryptocurrency market, the narrative has taken a different twist for NFT. A DappRadar report revealed that there has been a fall in NFT trading quantity, but regardless of the fall, there has been a significant addition of monthly unique traders.
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October might have been a negative account of the reduction in nonfungible token (NFT) trading quantity and auctions. However, the analysis of Dapp Radar reveals that there was an 18% increase in monthly unique NFT traders, which proves that the market is still highly demanded amongst investors.
The report unveiled on the 3rd of November from DappRadar says that the amount of monthly unique NFT investors grew up to 1.11 million in October alone, spiked 18% from September. This whopping increase is recorded even with the drop of 30% to 662 million in October, the lowest recorded in 2022, while the sales figure reduced by 30% to 6.13 million, the firm stated, including:
However, the NFT community has been quite busier this month, and at least two more NFT marketplaces have changed to a non-compulsory royalty structure. Let us know what your thoughts are in the comment section.
