E Point Perfect – Interesting and beneficial content

Cardano Breaks into Top 3 NFT Chains as 24-Hour Volume Jumps 132%


Cardano has broken into the top three NFT chains as its NFT space continues to gain traction. Cardano ranked ahead of Immutable X with $968,000 traded in NFTs, following Ethereum and Solana only.

Cardano also recorded a 132% jump in 24-hour NFT volume. Notably, NFT platforms, The Ape Society, Spacebudz, Claynation by Claymates and Derp Apes, saw increases of 341%, 1066%, 318% and 368% in 24-hour volumes.

As reported by U.Today, an exodus of NFT traders has been noticed as many move away from Solana to Cardano. This might also have contributed to the surge in volumes seen in the Cardano NFT space.

Per OpenCNFT data, the number of NFT trades increased by nearly 40% in the last 24 hours, and the number of NFTs sold rose by 40% as well.


In addition, the floor prices of the top CNFT collections have also increased between 40% and 140%, according to the screenshot shared by Stocktwits NFTs. On the other hand, the 24-hour NFT volume on Solana was down 30%.

Orbis analyst makes prediction about DeFi

Cardano’s NFT space is rapidly growing, with more than six million NFTs minted. However, its DeFi space is yet to match up in terms of growth. The Cardano TVL, which refers to the total value locked in its DeFi ecosystem, is just $65.39 million.

Sooraj, an analyst at Orbis, predicts the rise of Cardano DeFi: “The NFT volume on Cardano is amazing. But wait for the DeFi stats, when the real behemoths of DeFi protocols go live on Cardano. This winter may be bad for the markets, but I have a feeling that this winter we will see the rise of DeFi in Cardano.”


Source link

Related posts

Bitcoin (BTC) Expected to Hit $25K-$30K in 45 Days by Ben Armstrong, But There’s a Catch

JPMorgan Claims Things Aren’t Looking That Bad for Crypto

Dogechain (DC) Price Explodes 220%, Here’s Why

Ripple CTO Explains Why XRP Is a Commodity

Shiba Inu Adds Zero to Its Price Point as Key Altcoins Decline

Cardano Founder Says This on Elon Musk’s Pullout from Twitter Bid and Plans to Build Platform