HomeCryptoWhat Was The Most Profitable Month for NFT Traders?

What Was The Most Profitable Month for NFT Traders?

What was the most profitable month for NFT traders?

Did SOL NFTs pump on the biggest ETH NFT bull runs as

Let’s find out!

First, we’ve had these:
⏺Aug 2021: NFT bull run
⏺January 2022: biggest NFT bull run to date with around 4b+ USD volume
⏺April ’22: second biggest NFT bull run

The most profitable month for NFT traders was def January ’22 with around $4bn+ USD volume, and anything and everything was pumpin’.

Chart: @richardchen39 on @DuneAnalytics

Interesting thing is that before any bull run, a popular thing like a news/event happens. For example:
Before the March 2021 NFT bull market, @beeple’s iconic $69M USD NFT sale made it to massive headlines and media, which kicked off the curiosity of people to research NFTs.

How much did ETH NFTs make in sales volume compared to SOL NFTs, in bull runs?
— Aug 2021: ETH NFTs made around $3.4bn+ USD volume
SOL NFTs made around $164M.

— Sept 2021: while ETH NFTs made less volume ($2.9bn) in sales than Aug 2021, SOL NFTS actually surpassed their own Aug 2021 volume.

SOL NFTs made more on Sept 21 than Aug 2021: around $264M USD.

— Jan 2022: ETH NFTs made around $4bn USD. SOL NFTs made around $300M USD.

— April 2022: ETH NFTs made around $3.29bn USD in volume. SOL NFTs made $311M in April (more than in January).

Key points
⚪️$SOL NFTs biggest sales volume ever was in April 2022, and not January 2022 like ETH NFTs did.
⚪️ While Jan was bigger for eth NFTs, it was a win for NFTs in general since a lot of new people first heard about NFTs around that time and entered the space.

🟣 Solana’s NFT growth for the lesser amount of time it has existed is mind-blowing and surprising.
🟢 SOL made more in sales volume during Sept 2021 than in Aug 2021.
🟢 Biggest NFT bull runs for SOL in order:
1) April ‘22
2) Jan ‘22
3) Oct ’21 ($286M USD).

• • •

⚪️ ETH & SOL NFTs have pumped at the same time before, however, their “biggest months” are not always the same ones. 2 examples:
🟢 ETH pumped more in Aug ’21, SOL pumped more in Sept ‘21.
🟣 ETH pumped more in Jan ’22, SOL pumped more on April ‘22.

Sources: @cryptoslamio & @DuneAnalytics (@richardchen39)
Thanks for reading! 😙

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