Ethereum NFT market witnesses a bullish trend

The market for Ethereum non-fungible tokens (NFT) is currently seeing an unwavering bullish trend. Recently, there has seemed to be a lot more activity, which clarifies that things are much better than previously thought. With a closing value of more than $231 million, the weekly trading volume has dramatically climbed. This was made possible by the fact that there were 154,000 traders who were in charge of carrying out 474,000 transactions. A single trader executed 3.1 trades on average, with an average volume of $487.

These very encouraging figures are the biggest proof that the NFTs, which are digital assets, are indeed seeing an enormous upward swing and cannot be set aside for anything else. They frequently stand out when it comes to art, collectibles, and virtual real estate. The present scenario happens to be witnessing the enormous amount of popularity the NFTs are generating, which in turn is helping the overall market boom. Investors, too, don’t seem far behind in enjoying the accompanying benefits in the form of increased returns on their investments.

Along with the very heartening condition of the NFT market, Doodles, which happens to be a Web3 entertainment-based company, is coming right into the limelight. The announcement is that all preparations have been made to acquire control of the animation company Golden Wolf. Due to its involvement in the highly regarded animated series Rick and Morty, this is very much in the picture. But as of now, no information about the financial aspects has been made public.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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