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-4.00%

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Solana and Moonbirds help NFT market reach $6.3B monthly trading volume


06 May 2022

#Solana

Moonbirds contributed half a billion in trading volume in April, while Solana registered a 91% surge in NFT trading volume month over month. Solana and Moonbirds came to the rescue of the bearish nonfungible token market in April after a six-week cooldown phase. According to DappRadar’s monthly report, the NFT market recorded a multimonth trading volume high of $6.3 billion in April, surging 23% from March and breaching the $6 billion mark for only the third time in its history.

Moonbirds contributed $500 million worth of trading volume, while the Solana blockchain recorded nearly $300 million in NFT trades, with a 91% month-on-month increase.

Many new hyped NFT projects also contributed to the growing trading volume, especially Otherdeeds, which generated $760 million within 24 hours. The success of Otherdeeds turned out to be bittersweet, as it led to high gas fees of up to 2.5 Ether (ETH) at the time of minting. The daily unique active wallet count interacting with decentralized apps reached 2.36 million in April, a slight 0.2% increase from March. BNB Chain and Wax saw the highest average number of wallets connected, with 568,000 and 492,000 daily unique active wallets, respectively.

While the NFT market made a remarkable recovery, the total value locked in decentralized finance dipped 12% due to volatile token prices. However, Terra defied the common market trend to register a 15% surge in TVL dominance, with a total of $30 billion locked in the protocol.

Falling TVLs and volatile token prices didn’t prevent the DeFi market from continuing its expansion, with the ecosystem registering remarkable growth beyond the Ethereum blockchain. Ethereum’s TVL dominance declined from 94% a year ago to 59% in April. Blockchain games continued their dominance in April despite major breaches such as the hack of Axie Infinity’s Ronin bridge. Gaming DApps accounted for 52% of the industry’s unique active wallets. Major gaming blockchain networks such as Polygon and BNB Chain also topped the chart of on-chain activity.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 60% 78 $22 830.69 -4.00% -0.52% $440 116 562 399 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 62% 83 $1 567.24 -4.81% -3.79% $191 789 399 777 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 96% 1 $1.000078 0% -0.01% $67 781 342 385 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 71.6% 62 $307.00 -3.30% 0.45% $48 475 686 080 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 95.6% 1 $1.000097 0% 0.02% $42 712 574 255 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 68.4% 65 $0.394679 -4.64% -7.19% $20 051 109 625 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 93.2% 1 $1.000027 -0.04% -0.01% $15 732 612 269 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 63.6% 72 $0.372216 -6.14% -0.88% $12 876 317 286 ADA 7 days price change
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10 Lido stETH (STETH) STETH Lido stETH predictions 91.2% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Polygon (MATIC) MATIC Polygon predictions 65.6% 73 $1.086506 -7.74% 9.11% $9 489 885 842 MATIC 7 days price change
12 Solana (SOL) SOL Solana predictions 56.8% 94 $23.94 -8.40% -1.81% $8 897 955 616 SOL 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 59.2% 81 $6.19 -6.46% -5.92% $7 131 777 560 DOT 7 days price change
14 Litecoin (LTC) LTC Litecoin predictions 70.8% 55 $91.25 -4.07% 1.30% $6 585 562 085 LTC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 66% 72 $0.062203 -2.41% -0.99% $6 324 607 060 WTRX 7 days price change

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