The OKX NFT Marketplace, which is a part of the cryptocurrency exchange OKX, had $50 million worth of trades in 24 hours on December 18.
This was more than other big NFT platforms like OpenSea, Blur, and Magic Eden. A decentralized apps (DApp) data tracker called DappRadar said that this rise in trading volume was seen around 10:00 am UTC.
![OKX shakes up NFT market with record-breaking trading day image 66](https://i0.wp.com/nosisnews.com/wp-content/uploads/2023/12/image-66.png?resize=1024%2C684&ssl=1)
![OKX shakes up NFT market with record-breaking trading day image 66](https://i0.wp.com/nosisnews.com/wp-content/uploads/2023/12/image-66.png?resize=1024%2C684&ssl=1)
At the time of this writing, the OKX NFT Marketplace’s selling volume has dropped to $35 million, but it still has more trades than its competitors. OKX NFT Marketplace stands out when compared to Blur, Magic Eden, and OpenSea together, which have about $24 million worth of trades every 24 hours.
The big rise in trades on the OKX NFT Marketplace can be traced back to the addition of Bitcoin Ordinals trading. CryptoSlam, an NFT tracker, says that the Bitcoin network had a big week with $367 million in sales. This was more than the combined weekly trading value of Ethereum and Solana, which was $91 million.
This change in the amount of Bitcoin NFTs sold became clear on December 12 when the Bitcoin network hit a daily NFT sales number of $24 million, which was more than Ethereum’s $16 million and Solana’s $6 million.
Guess which #Bitcoin NFT collections are in the gallery 🎨👇
— OKX (@okx) December 18, 2023
________________
╱| ______________ ╱|
| |🟧🟧🐸🟧🟧| |
| |🟧🐀🟧🗺️🟧| |
| |🦧🟧👨🦲🟧🪨| |
|╱  ̄  ̄ ̄💃 ̄  ̄ |╱
 ̄ ̄🚶 ̄ ̄👫 ̄
In addition to the success of Bitcoin Ordinals, the NFT space as a whole has been on the rise again, with a total turnover that was close to $1 billion in November. It went from $126 to $270, a huge rise of 114% in the average value of NFT transactions during this time.
This means that users are more willing to make trades of higher value than they were in the past few months.
ALSO READ
- High-Value NFTs targeted in NFT trader cyber attack
- NFT trading volume hits $1 Billion in bullish market
- Is this a Joke? Trump launches “MugShot” NFTs