Cardano Records 280% Spike in NFT Volumes Within Week: Details

Cardano has seen a 280% increase in its NFT volume within seven days. Taken from Oct. 10, when ADA NFT volumes were barely 811,000, to Oct. 17, when ADA NFT volumes reached 3.0 million ADA, this represents a 280% increase. Cardano also entered the top three NFT chains, flipping Immutable X to the fourth spot.

📈NFT volume in ADA:
🔹Oct. 10th: 811k
🔹Oct. 11th: 813k
🔹Oct. 12th: 1.10m
🔹Oct. 13th: 1.02m
🔹Oct. 14th: 943k
🔹Oct. 15th: 1.16m
🔹Oct. 16th: 1.77m
🔹Oct. 17th: 3.09m
🔹Oct. 18th: 2.80m

— Rami (@CardanoRami) October 20, 2022

Per OpenCNFT data, the number of NFT trades increased by 67% in the last seven days to 48,384, and the number of NFTs sold rose by 65.27% to 45,668. An all-time high volume of 3,089,313 was hit on Oct. 17. On Oct. 20, the 24-hour NFT volume in ADA, according to OpenCNFT data, was given as 1,232,142.

Top NFT projects from each chain🚀

SOL @DeGodsNFT $631,703
SOL @y00tsNFT $470,687
ADA @the_ape_society $200,443
HBAR @HangryBarboons $56,209
ADA @claymates $43,630
EGLD @sense4fit $17,912
AVAX @chikn_nft $17,500
ALGO @al_goanna $5,067

— Stocktwits NFTs (@StocktwitsNFTs) October 19, 2022

Notably, Cardano NFT projects are gaining ground. According to a screenshot shared by Stocktwits NFT, The Ape Society and Claymates are taking the lead in NFT volumes.

Activity increased in last epoch

According to data shared by Dapps On Cardano, there has been an increase in user activity since the last epoch. An epoch, in Cardano's parlance, lasts five days. Notably, projects such as CNFT, SingularityNET, Cardano DEX MuesliSwap, Lending Pond and SpaceBudz saw increases of 282%, 259%, 93%, 75% and 75%, respectively, in user activity.

#dapps on #Cardano with highest increase in activity for last epoch:
1. @CNFT_IO 282% 🚀
2. @Singularity_NET 259%
3. @MuesliSwapTeam 93%
4. @lendingpond_ada 75%
5. @spacebudzNFT 75%

✅https://t.co/Z6Cksroy28 pic.twitter.com/zxTKgL6jYt

— Dapps On Cardano (@dappsoncardano) October 20, 2022

Expectations on the network remain in place after the successful launch of the Vasil update, which brought improvements to Cardano and its Plutus smart contracts, on the Cardano mainnet on Sept. 22. Full Vasil capabilities were deployed five days after that, on Sept. 27, thus allowing developers to access Vasil benefits.