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Sujit Kumar
May 4, 2024
by Sujit Kumar

Blast Network Surpasses Ethereum in NFT Volume Amid Concerns

Blast Network Surpasses Ethereum

Table of contents

  1. Waning Interest in Ethereum NFTs
  2. NFT Trends Beyond Ethereum
  3. Ethereum's Price and Network Growth
  4. Key Considerations for Ethereum's Future
Ethereum, historically dominant in the crypto space, faces a challenge as Blast network's NFT collections outperform Ethereum's in terms of volume. However, a significant portion of Blast's volume may be attributed to wash trading, inflating metrics and misleading investors.

Waning Interest in Ethereum NFTs

Despite Ethereum's overall market dominance, declining interest in Ethereum NFTs raises concerns about the network's state. Data analysis indicates a significant decrease in the number of NFTs being traded, hinting at shifting trends within the NFT sector.

NFT Trends Beyond Ethereum

NFT collections on networks like Bitcoin and Mythos have also shown strength, surpassing Ethereum NFTs in performance. Established Ethereum collections like BAYC and Crypto Punks struggle to maintain top positions, signaling potential shifts in the NFT landscape.

Ethereum's Price and Network Growth

While Ethereum's price climbs amid Bitcoin's recovery, network growth metrics show promising signs. Increasing interest from new addresses and rising velocity suggest heightened transaction activity, potentially driving Ethereum's price upward.

Key Considerations for Ethereum's Future

However, Ethereum's future trajectory depends on various factors, including the behavior of large addresses. Declines in addresses holding substantial ETH amounts may impact Ethereum's price trajectory, highlighting the importance of large-scale investor participation.

Disclaimer:The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

 

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Blast Network Surpasses Ethereum
Blast Network Surpasses Ethereum in NFT Volume Amid Concerns
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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