NFT Volume refers to the total monetary value of Non-Fungible Token transactions conducted over a specific period, typically measured daily, weekly, or monthly. This metric indicates the level of trading activity and liquidity within the NFT market. High NFT volume suggests robust demand and active participation from buyers and sellers.
Context
News reports frequently highlight fluctuations in NFT volume as an indicator of market health and investor interest in digital collectibles. Significant increases or decreases in volume can signal shifts in market sentiment or the emergence of new trends. Analysts closely monitor NFT volume alongside average sale prices to assess the overall vitality of the NFT ecosystem.
Base, a Coinbase-backed Layer 2, drives significant ecosystem expansion through a 70% surge in NFT trading volume and $16 billion in DApp volume, signaling robust product-market fit.
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