NFT trading on Ethereum saw a significant surge in Q1 2023 compared to the previous quarter, largely due to the airdrop farming frenzy for Blur's native token. Data from Nansen shows that NFT trading volume more than doubled in Q1 2023, with a modest increase in the number of unique wallets trading NFTs. However, NFT activity for this spring shows a slightly more bearish picture, with a 30% decline in trading volumes across various marketplaces in April and the lowest number of sales and users reported in the first week of May. Despite this, trading volumes in USD terms remain high due to Ethereum's bullish start to the year.
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NFT Trading Volumes Surge in Q1 2023 on Ethereum, Thanks to Blur's Native Token Airdrop
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