Weekly Top 5 NFT Marketplace [ 05-08-2024 to 11-08-2024 ] || Weekly Report

Hope everybody is doing well. I'm fine too. Today, This blog is going to be very interesting. A lot has happened at NFT World in the last week. The value of a marketplace has increased, while the value of a marketplace has decreased. This all depends on the number of traders and the total volume. The more dollars that are traded in that marketplace, the more that marketplace will be ahead in the rankings. A marketplace only comes in the rankings when there is a very beautiful NFT collection and its demand is the highest for everyone.

It is natural that the marketplaces will fluctuate in ranking. Today, This blog is not Tron-related. All types of marketplaces will be accepted here. As I told you before, NFT is becoming more and more popular. There are 3 types of people: - 1. Buyer, 2. Sellar and 3. Collector.

Buyers come to buy NFT and he is thinking of holding it. NFT creators come to sell their NFT and sell it at a price they like. And collectors basically buy NFT at a lower price and sell it at a higher price. It's basically like a business.

As you all know, I keep you updated on NFT Marketplace Every week. So for that reason, today's post is sorted. Hopefully, I will be able to show you this blog in a very beautiful and interesting way. So let's go:-

Every week, I reappeared with a review of NFT Marketplace. The downtrend of the crypto market has also had an effect on the NFT marketplace. Due to which, the transaction has decreased. And because of this, the number of users has also reduced. As a result, the total value of the NFT marketplace has declined.

At this time of the crypto collapse, the NFT world has also collapsed. Traders have kept themselves away from all places at the present time and this has also impacted these NFT marketplaces. As a result, the number of NFT Marketplace users has decreased over time. However, today's list is sorted based on this.

Blur ranks 1st on this list. Pull back its position to 1st after a long time. This is the ETH marketplace. This marketplace is a totally new NFT marketplace. The average price of this marketplace was $1.47k and that decreased by about -10.72%. The total number of users in this marketplace is 7.18k, which has decreased by about -9.37%. The total volume of this marketplace is $21.81M, which has decreased by -21.61%.

OpenSea got down its position. This marketplace is in the 2nd position after a long time this week. Last week the average price was $102.86, which increased by +28.64%. Again, the total number of traders in this marketplace is 43.64k, which increased by +2.05%. And its total weekly volume is $19.99M, it's down to -31.28%. The detrimental effects of the bear market have affected everything.

Magic Eden is in 3rd place. This marketplace gained a lot of popularity last week. Last week, its average price was $397.44, which increased to +27.74%. Again, the total number of traders in this marketplace is 25.17k, which decreased to -22.09%. Then the total volume of this market is $17.64M and it increased to +6.63%

In 4th place is Element Market. This marketplace is a totally brand-new NFT marketplace built in a multi-chain system. Last week's average price of this marketplace was $1.24k, it's decreased to -3.35%. Its total number of traders is 1.86k, which decreased by about -23.5%. Its total weekly volume is $7.64M, which decreased to -24.06%.

Finally, Tensor is in the 5th position. It is a popular marketplace in Solana. Last week, the average price of this marketplace was $250.02, which increased to +54.93%. The total number of traders in this marketplace is 10.94k, which decreased to -4.61% compared to the previous week. The total volume of this marketplace for the last week is $6.42M, which increased to +7.36%.