NFT whales on the BNB Chain ecosystem drove an increase in trading volume in the third quarter of 2024.
In this week’s newsletter, whales have driven a comeback for non-fungible tokens (NFTs) in the BNB Chain ecosystem, Lamborghini opened minting for its Revuelto NFTs, Infinex plans to integrate with OpenSea and Blur to list the top 500 crypto assets, and in other news, find out why OpenSea users dropped their lawsuit against the NFT marketplace.
While the average daily buyers of NFTs on BNB Chain declined, whales continued to buy, sell and trade NFTs on the network. Third-quarter data from blockchain analytics firm Messari showed that NFT volumes increased to a daily average of $600,400.
Daily average sales in Q3 increased to 8,900, marking a 47% quarter-on-quarter increase. Despite this, the chain’s average daily buyers fell to 2,300, a 53% decline compared to the previous quarter, suggesting that whales drove the increase in volume.
