Coins: 14,774
Exchanges: 1,129
Market Cap: $2.451T 4.5%
24h Vol: $97.686B
Gas: 48 GWEI
Go Ad-free
NFTs & Games
TABLE OF CONTENTS

Total Monthly NFT Trading Volume 2023

4.4
| by
Julia Ng
-
 

What is the Total NFT Trading Volume?

The total NFT trading volume of the top 6 NFT marketplaces was $1.89 billion in February 2023. This is the fourth consecutive month with the total NFT trading volume on an uptrend, increasing 91.9% month-on-month (MoM) from January 2023, which saw only $987.9 million worth of NFTs being traded. This is a reversal of the previous six months’ decline, and signals that NFTs are enjoying some recovery, amid innovations including Blur’s trader-centric model and open edition NFTs

In spite of this comeback, total NFT trading volume is still far below its 2022-highs during its previous NFT bull run, representing a 67.3% drawdown from the all-year high of $5.79 billion in January 2022.

Total NFT Trading Volume, by Month

Month Total NFT Trading Volume (USD) MoM %
Jan-22 $5.8B -
Feb-22 $4.0B -30.9%
Mar-22 $3.1B -23.6%
Apr-22 $4.5B 47.2%
May-22 $3.6B -20.4%
Jun-22 $1.0B -71.8%
Jul-22 $736.4M -27.1%
Aug-22 $680.9M -7.5%
Sep-22 $583.6M -14.3%
Oct-22 $545.3M -6.6%
Nov-22 $573.0M 5.1%
Dec-22 $872.1M 52.2%
Jan-23 $987.9M 13.3%
Feb-23 $1.9B 91.9%

 

Blur Accounted for 57% of Total NFT Trading Volume in February 2023

New marketplace Blur accounted for 56.8% of total trading volume in February 2023, equivalent to $1.1 billion in volume. Comparing this against OpenSea’s $691.3 million in trading volume in the same month, Blur has successfully flipped the former market leader in terms of market share (36.5%).

Blur aside, OpenSea’s total NFT trading volume has also managed to bounce back, with total trading volumes increasing substantially MoM – 58.4% in January 2023, and 68.4% in February 2023.

Overall, the NFT market shows signs of recovery with trading volumes on the uptrend for four consecutive months, since November 2022.

Methodology

The study examined the total monthly trading volume on the top 6 NFT marketplaces using Footprint Analytics data from January 1, 2022 to February 28, 2023, and excludes wash trading. The top 6 NFT marketplaces are: Blur, OpenSea, Magic Eden, x2y2, CryptoPunks and LooksRare.


If you use these insights, we would appreciate a link back to this article on CoinGecko. A link credit allows us to keep supplying you with future data-led content that you may find useful.

Curious to know out more about the crypto landscape? Check out our extensive Stablecoins Statistics 2023 Report.

CoinGecko's Content Editorial Guidelines
CoinGecko’s content aims to demystify the crypto industry. While certain posts you see may be sponsored, we strive to uphold the highest standards of editorial quality and integrity, and do not publish any content that has not been vetted by our editors.
Learn more
Want to be the first to know about upcoming airdrops?
Subscribe to the CoinGecko Daily Newsletter!
Join 600,000+ crypto enthusiasts, traders, and degens in getting the latest crypto news, articles, videos, and reports by subscribing to our FREE newsletter.
Tell us how much you like this article!
Vote count: 9
Julia Ng
Julia Ng
Julia leads Growth at CoinGecko and is passionate about onboarding more women onto Web3. That said, she is generally poor at timing the market, so she DCAs for safety. Follow the author on Twitter @ngxinyajulia

Related Articles

Select Currency
Suggested Currencies
USD
US Dollar
IDR
Indonesian Rupiah
TWD
New Taiwan Dollar
EUR
Euro
KRW
South Korean Won
JPY
Japanese Yen
RUB
Russian Ruble
CNY
Chinese Yuan
Fiat Currencies
AED
United Arab Emirates Dirham
ARS
Argentine Peso
AUD
Australian Dollar
BDT
Bangladeshi Taka
BHD
Bahraini Dinar
BMD
Bermudian Dollar
BRL
Brazil Real
CAD
Canadian Dollar
CHF
Swiss Franc
CLP
Chilean Peso
CZK
Czech Koruna
DKK
Danish Krone
GBP
British Pound Sterling
GEL
Georgian Lari
HKD
Hong Kong Dollar
HUF
Hungarian Forint
ILS
Israeli New Shekel
INR
Indian Rupee
KWD
Kuwaiti Dinar
LKR
Sri Lankan Rupee
MMK
Burmese Kyat
MXN
Mexican Peso
MYR
Malaysian Ringgit
NGN
Nigerian Naira
NOK
Norwegian Krone
NZD
New Zealand Dollar
PHP
Philippine Peso
PKR
Pakistani Rupee
PLN
Polish Zloty
SAR
Saudi Riyal
SEK
Swedish Krona
SGD
Singapore Dollar
THB
Thai Baht
TRY
Turkish Lira
UAH
Ukrainian hryvnia
VEF
Venezuelan bolívar fuerte
VND
Vietnamese đồng
ZAR
South African Rand
XDR
IMF Special Drawing Rights
Cryptocurrencies
BTC
Bitcoin
ETH
Ether
LTC
Litecoin
BCH
Bitcoin Cash
BNB
Binance Coin
EOS
EOS
XRP
XRP
XLM
Lumens
LINK
Chainlink
DOT
Polkadot
YFI
Yearn.finance
Bitcoin Units
BITS
Bits
SATS
Satoshi
Commodities
XAG
Silver - Troy Ounce
XAU
Gold - Troy Ounce
Select Language
Popular Languages
EN
English
RU
Русский
DE
Deutsch
PL
język polski
ES
Español
VI
Tiếng việt
FR
Français
PT
Português
All Languages
AR
العربية
BG
български
CS
čeština
DA
dansk
EL
Ελληνικά
FI
suomen kieli
HE
עִבְרִית
HI
हिंदी
HR
hrvatski
HU
Magyar nyelv
ID
Bahasa Indonesia
IT
Italiano
JA
日本語
KO
한국어
LT
lietuvių kalba
NL
Nederlands
NO
norsk
RO
Limba română
SK
slovenský jazyk
SL
slovenski jezik
SV
Svenska
TH
ภาษาไทย
TR
Türkçe
UK
украї́нська мо́ва
ZH
简体中文
ZH-TW
繁體中文
Login to track your favorite coin easily 🚀
By continuing, you agree to CoinGecko Terms of Service and acknowledge you’ve read our Privacy Policy
or
Forgot your password?
Didn't receive confirmation instructions?
Resend confirmation instructions
IT'S FREE! Track your favorite coin easily with CoinGecko 🚀
By continuing, you agree to CoinGecko Terms of Service and acknowledge you’ve read our Privacy Policy
or
Password must contain at least 8 characters including 1 uppercase letter, 1 lowercase letter, 1 number, and 1 special character
Didn't receive confirmation instructions?
Resend confirmation instructions
Forgot your password?
You will receive an email with instructions on how to reset your password in a few minutes.
Resend confirmation instructions
You will receive an email with instructions for how to confirm your email address in a few minutes.
Get the CoinGecko app.
Scan this QR code to download the app now App QR Code Or check it out in the app stores
coingecko
Continue in app
Track prices in real-time
Open App