The NFT market is booming, with Musk and Pepe the Frog as two key factors.

Kabir903

"Further insights from the DappRadar report reveal that, while the overall NFT trading volume has decreased, there are many ongoing small-scale NFT transactions in the current NFT market. As of the time of writing, the number of NFT transactions has surpassed nearly 2.3 million, with an overall market activity growth of approximately 27%. This unusual phenomenon is credited by DappRadar to events such as Elon Musk's release of the Milady Maker NFT on his personal Twitter and the popular meme ""Pepe the Frog,"" which declared war on Dogecoin on its official website, claiming that Dogecoin's glory days are coming to an end.

Regarding transaction channels, DappRadar's data indicates that 26.9% of transactions are completed on Polygon, 13% on Solana, and only 5.7% on Ethereum. The low percentage on Ethereum may be attributed to multiple small transactions, as traders seek to reduce transaction fees.

Gaglas pointed out that, despite the unusually active nature of the NFT trading market, it may be influenced by a few events, but transaction volume remains a key metric for measuring the success of the NFT trading market."

Kahn332

NFT trading is quite active, isn't it?

Kalkin995

NFTs are becoming more and more accessible, which is creating a lot of interest.

Pooja193

I haven't bought any NFTs either.

Nimmi373

Maybe I should consider getting an NFT too, haha.