Top Performing NFT Collections During the Holidays
The cryptocurrency and NFT market has had a rough year. However, a number of projects are showing promising signs amid the harsh reality.
Azuki, DeGods, Otherdeed and y00t were the most successful NFT collections over the holiday season. Although several NFTs registered small declines in the number and volume of transactions, the collections stood out among all others in the various markets for non-fungible tokens.
Top performing NFT collections
Between December 26 and 27, Azuki was the best-performing collection with sales of $2 million, an increase of 634%, CoinStats data shows. Over the same holiday period, the floor price for Azuki’s NFT seemingly rose from 11.16 ETH on Dec. 24 to 11.99 ETH.
DeGods is an NFT collection, based on the Solana (SOL) blockchain, which has been gaining traction over the past few days. According to NFT data aggregator CryptoSlam, sales of DeGods have increased by over 400% in the last 24 hours to reach around $1.73 million. DeGods’ current floor price is 518 SOL.
The Otherdeed Collection is another project that is performing relatively well over the current holiday period. Between Dec. 18 and Dec. 25, the floor prices for Otherdeed NFTs spiked from 0.18 ETH to around 1.05 ETH. However, this was only a return to the collection’s previous highs before the recent decline. Thirty days ago, Otherdeed’s floor price was also around 1.05 ETH.
y00t, another Solana-based NFT collection, has also seen significant growth over the past few days, with its sales surging over 544% to $1.157 million. On December 24, sales volume was only around $200,000. The latest 24-hour volume set a one-month high.
READ MORE:
Bored Ape Yacht Club (BAYC) saw a sharp increase in the last 24 hours, totaling more than $3 million in sales – a 283% increase in one day, despite an overall decline last week.
NFTs saw a 40% drop in sales along with a 42% drop in the number of transactions over the past week.
$23.7 billion minted and traded on Ethereum
Yesterday, Nansen, a data analytics network, shared a report stating the total value of NFTs minted on Ethereum through 2022. According to the data, about $23.7 billion worth of NFTs have been traded and minted on the network.
Do you possibly have data on this? (Wash trading in others assets would be interesting too)
Thanks!https://t.co/eaj7ZHKJl0— Anon Account of Linas Kmieliauskas-DESSENTER (@linasantlinijos) December 26, 2022
The traded and minted value peaked at $1.6 billion in May following the release of the Otherdeed and Otherside collections. Nansen’s data and the recent launch of NFT collections show that Ethereum is still the preferred blockchain for NFTs.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
