The Ethereum ecosystem has also experienced a boost in activity in the last 24 hours, which can be explained by notable landmark occurrences.
Information from the on-chain exchange aggregator CryptoSlam. Terra communicated that there had been a massive boost of Ethereum-backed non-fungible token (NFT) sales after the approval of the US Securities and Exchange Commission (SEC) towards spot Ethereum (ETH) exchange-traded funds (ETFs).
It proves that the SEC’s approval has favorably affected the Ethereum NFT market by improving investor engagement and transaction volumes on the analytics platform.
Ethereum NFT Market Sees Uptick in Sales Volume
Non-fungible tokens (NFTs) operating on the Ethereum network have seen a significant uptick in trading, with sales volume surpassing $6.9 million in the last 24 hours. This rise has been realized and is equivalent to a 27 percent increase in the number of people put to death, over a 25% rise from the trading numbers of the previous day.
Since the early euphoria triggered by Bitcoin Ordinals in mid-March, Ethereum-based NFTs have stood quite sturdy despite a brief bear phase. Below is a list of the most popular NFT collections of the last hours, according to CryptoSlam. Io data.
Bored Ape Yacht Club (BAYC)
The Bored Ape Yacht Club (BAYC) avers that the overall number of sales in the last 24 hours stood at $600,894 as its ranking elevated to the top seller from the previous second day’s percentile.
The Captainz
Captainz’s collection of NFTs was bought and re-sold within mere days, generating a total trading value of $409,044, ranking it as the second most popular NFT collection. However, its sales volume declined by twenty-one percent to 17 567 bottles, thus slightly improving on the previous month’s poor performance. 34% from the previous day, indicating that the risk of the virus spreading continued to be high and would require constant monitoring.
CryptoPunks
CryptoPunk was a leading seller in the 24 hours to October 23, recording a trading volume of $396,695, 232% up from the previous day.
Mutant Ape Yacht Club (MAYC)
In the last 24 hours, Mutant Ape Yacht Club amassed a trading volume of $312,757, marking a 49% increase and securing the fourth spot.
Mocaverse
Mocaverse, an Animoca Brands collection with 8,888 NFTs, achieved a trading volume of $297,676, making it the fifth top-selling collection.
Pudgy Penguins
Thus, the Pudgy Penguins splurge had a trading volume of 276682$, 572% higher than its cost.
Milady Maker
Milady Maker’s trading volume was $260,133, and the trading value was 222% in the last one-day trading session.
Evaluating the impact of the spot ETH ETF approvals, an overall increase in trading volumes could be deduced as a domino effect stimulating investors’ interest in Ethereum-based NFTs.
