The NFT market saw a remarkable revival in July that Defi exceeds in terms of user activity, according to a report of 7 August.
The shift marks an important milestone and can indicate that NFTs again attract the attention of the public after a considerable break that has lasted since their fall in the 2022 Berenmarkt.
NFTS Volume Surge in July
Daapradar data showed that NFT -Handelsvolume rose by 96%and reached $ 530 million in July. However, the total number of transactions fell by 4%, by only 5 million NFTs that change ownership during the month.
The trend reveals a clear shift in the behavior of buyers, where fewer NFTs change ownership but sell for considerably higher prices. In fact, the average NFT sales price has more than doubled, from $ 52 in June to $ 105 in July.
Platforms that focus on mozers and makers saw the most growth during the period. Blur accounted for no less than 80% of the NFT trade volume-based NFTHEUM, powered by professional traders and the blend credit function.
In the meantime, OpenSea, the largest NFT marketplace, remained the most active in the daily number of users, with around 27,000 traders, thanks to the long-tailed hotels and multichain support.
In the meantime, Zora, a platform that was built for makers on the basic network supported by Coinbase, received a momentum with his Layer 2 solution and native Zora-Token, who lowered NFT Mint costs.
Dapradar concluded that these figures demonstrate the significant evolution within the NFT landscape from the early market hype to the increasing usefulness of this digital assets.
According to the blockchain company, the space is no longer limited to art and digital collective objects. Instead, it has been extended to practical usage scenarios such as digital identity, ticketing of events, gaming and real-world assets-tokenization.
Defi is also growing
While NFTS made waves in July, Defi also continued to experience impressive growth. Dapradar reported that the total value of the locked assets (TVL) in Defi increased by more than 30%and reached $ 259 billion towards the end of the month.
In particular, the sector reached a new peak of $ 270 billion on July 28, powered by the growing demand from the users and fresh liquidity injection on loans, trade and tokenized assets.
In the meantime, a striking trend came in Defi from Tokenized shares, with wallet interactions increasing from around 1,600 to more than 90,000. This increase contributed to an increase of 220% in the market capitalization of tokenized shares, indicating that Real-World assets (RWAS) get a considerable traction.
Ethereum Defi continued to lead about assets, with $ 166 billion in TVL, which surpasses Solana’s $ 23 billion.
The significant rise in ETH can be attributed to a price die of almost 60% in July, probably powered by positive legal developments, in addition to striking rewards up to 29.4% APY.
On Solana, Hyperliquid emerged as an important player, good for 35% of the blockchain income in July. The platform saw the increasing demand for derivatives and now processes more than 60% of 24 hours of permanent trade volume, with $ 15.3 billion in open interest and $ 5.1 billion in brogging.