Try Quests to earn cryptoNFTX Bounties - Highest Sales Volume
Q1. Which 3 NFT collections have the most total sales volume in the last 60 days on NFTX?
What is NFTX?
NFTX is a lending/borrowing platform built to bring liquidity to a iliquid NFT market by allowing users to buy/sell/swap as in a traditional NFT marketplace, with the added ability to stake and earn yield on their owned NFT's by staking them in the users created vaults.
Methods
The ez_nft_sales from ethereum_core tables was used to get transactions and volume by collection in the last 60 days.
The collection rank is defined by the volume traded in the last 60 days. A daily collection volume was queried to get additional insight on how the top 3 collections were traded during the last 60 days.
Although the initial objective was to identify the top 3 collections by volume, MAYC (4th) and GoblinTown (5th) were added to the study as both have similar total volumes to BAYC (3rd)
The Top 3 collections by total sales volume in NFTX are:
- Milady
- Doodles
- BAYC
It was noticed that MAYC is very close to getting to 3rd place.
The meteoric rise of Goblin Town puts it in 5th place for now, but it's steady daily volume will certainly push it to 3rd in the next few weeks.
NFTX documentation: https://docs.nftx.io/
This analysis is focused on volume trends for the NFTx marketplace on Ethereum.
All conclusions are based on data from April 11th to June 10th 2022.
Slightly over 23M USD have been traded in NFTX in the last 60 days.
A light decrease in daily volume is noticed after May 13th but no clear trend for volume can be identified.
Some outlier days are seen where volume surpasses 1M USD traded.
Milady and Doodles sit clearly as the top 2 traded collections in NFTX with over 3M USD total volume.
Bored Ape Yatch Club (2.28M) comes in 3rd by a small margin over Mutant Ape Yatch Club (2.24M) with Goblintown.wtf (2.04M) reaching to 5th with a lot volume since it's mint.
Having clearly identified the top collections by volume one question surfaced.
How did this collections reached the top 5 collections?
Using the same ez_nft_sales table a daily volume breakdown by collection was created and we can reach some insights for each collection:
- Milady has maintained a steady volume
- Doodles, BAYC and MAYC places in the most traded collections are mainly because of 1-2 high trading volume days
- Goblin Town volume dominance after May 28, 7 days after mint day in May 21
Given the big popularity of Goblin Town it is expected that it will reach the top most traded collection in the next few weeks.
