While overall NFT volume has fallen off a cliff since January, Ethereum Name Service (ENS) domain sales have soared over the past week. ENS is now the most highly traded Ethereum-based collection on OpenSea, with a trading volume surpassing 2,305 ETH or $3.76 million; a 43% week-over-week increase. 🔗🌐
The success of ENS has coincided with the sales volumes of the Bored Ape Yacht Club (BAYC) and Cryptopunks falling by 55% and 62% respectively! 💔Elsewhere, some new research estimates the size of the Sports NFT Market at $2.6 billion in 2022 and forecasts it to reach 41.6 billion by 2032. This is a much-needed good sign, considering the fact that the Ethereum blockchain has seen its NFT volume drop by 25% to $74 million during the past week.