Huobi NFT Monthly Report

（Feb.2023）

Summary of NFT market views in February：

1. Trading volume：With the introduction of Blur, the NFT market on Ethereum has surpassed $2.5 billion in February’s trading volume.
2. Market sentiment：Average trading volume per capita and monthly trading volume are greater than that of Jan 2023 and Dec 2022, indicating an increasing interest from communities and a revival of NFT market.
   ——The trading volume of the NFT market on Ethereum increased enormously to $ 2,487,837,067 that 347,236 users closed 2,190,642 transactions, hitting a monthly record since May 2022, and an increase of 200% compared to Jan 2023.
3. The disruptor — Blur: The success of $BLUR has highlighted the significance of new NFT projects and platform on the overall market performance and user participation.
   ——Most of the trading volume can be credited to Blur since the launch of $BLUR on Feb 14. Daily trading volume on the NFT market of Blur has exceeded $47 million; it reached the peak of $114 million on Feb 22. In the past week, the weekly trading volume reached $536 million.
4. Bitcoin NFT: NFT in the Bitcoin eco is revitalized with stronger momentum, the value discovery is gradually unveiled. The market cap of NFT in the Bitcoin eco is expected to reach $4.5 billion by 2025.
5. Blue-chip NFT: Top blue-chip NFTs are still undervalued, where opportunities lie within.

For the full version of the report, please view and download it from this link here.

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Huobi Blockchain Application Research Institute (referred to as “Huobi Research Institute”) was established in April 2016. Since March 2018, it has been committed to comprehensively expanding the research and exploration of various fields of blockchain. As the research object, the research goal is to accelerate the research and development of blockchain technology, promote the application of the blockchain industry, and promote the ecological optimization of the blockchain industry. The main research content includes industry trends, technology paths, application innovations in the blockchain field, Model exploration, etc. Based on the principles of public welfare, rigor and innovation, Huobi Research Institute will carry out extensive and in-depth cooperation with governments, enterprises, universities and other institutions through various forms to build a research platform covering the complete industrial chain of the blockchain. Industry professionals provide a solid theoretical basis and trend judgments to promote the healthy and sustainable development of the entire blockchain industry.