Blur Dominates NFT Lending Market With 82% of All Loan Settlements Across the Sector, Dappradar Study Reveals

0 0

Blur Dominates NFT Lending Market With 82% of All Loan Settlements Across the Sector, Dappradar Study Reveals

knife

A recent study by Dappradar discloses the May loan volumes for non-fungible tokens (NFTs) reached a high of $375 million. The findings emphasize the significant influence of Blur within the NFT lending market, as the NFT marketplace platform constitutes 82% of the entire value settled in the NFT lending sector.

Blur Emerges as NFT Lending Giant, Capturing 82% of Market Share

Not long ago, Blur proclaimed its entry into the NFT lending arena, and since then, it has logged $308 million in NFT loan volume. This information stems from a May 25, 2023, study published by dappradar.com, indicating that 46.2% of the NFT marketplace’s transactions now involve loan activities.

The dappradar.com report accentuates how Blur unveiled its lending initiatives on May 1. On the same day, it registered 4,200 ether and has since escalated to 169,000 ether following its inception. Dappradar’s analyst notes that Blur’s weekly loan volume “outperformed other centralized platforms by approximately 2.93 times.” Blur’s NFT loan volume equates to 82% of all NFT lending settlements throughout the industry during a 22-day period.

Blur Dominates NFT Lending Market With 82% of All Loan Settlements Across the Sector, Dappradar Study Reveals

Sara Gherghelas from Dappradar explains that while Blur has monopolized NFT lending volumes across the sector, the trading volume on their platform has diminished. “The trading volume over the past seven days was $104.35 million, a 15.93% decline from the preceding week,” Gherghelas states. “This shift suggests that Blur is currently being primarily used for loans rather than trading. In fact, in the last seven days, nearly half (46.20%) of Blur’s activity originated from NFT loans, transacted by an average of 306 unique daily users.”

The fluctuations in trade volume might be ascribed to Ethereum’s overall decrease in NFT sales over the last 30 days, sliding 26% lower than last week. Conversely, Bitcoin-based NFTs have taken center stage, securing roughly $175,084,024 in NFT sales over the previous month, as data from cryptoslam.io suggests. In spite of the surge in Bitcoin-oriented NFT trade volume, 30-day sales across 22 blockchains dipped 10.15% lower than the preceding month’s figures.

What are your thoughts on Blur’s dominance in the NFT lending market? Share your opinions and insights in the comments section below.

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 27,777.44
ethereum
Ethereum (ETH) $ 1,901.33
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 312.68
usd-coin
USD Coin (USDC) $ 0.999586
xrp
XRP (XRP) $ 0.501225
cardano
Cardano (ADA) $ 0.380726
staked-ether
Lido Staked Ether (STETH) $ 1,900.15
dogecoin
Dogecoin (DOGE) $ 0.072577
matic-network
Polygon (MATIC) $ 0.905892
solana
Solana (SOL) $ 20.79
tron
TRON (TRX) $ 0.076439
polkadot
Polkadot (DOT) $ 5.46
litecoin
Litecoin (LTC) $ 91.51
binance-usd
Binance USD (BUSD) $ 0.998802
shiba-inu
Shiba Inu (SHIB) $ 0.000009
avalanche-2
Avalanche (AVAX) $ 14.51
dai
Dai (DAI) $ 1.00
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 27,824.45
uniswap
Uniswap (UNI) $ 5.15
chainlink
Chainlink (LINK) $ 6.56
leo-token
LEO Token (LEO) $ 3.56
cosmos
Cosmos Hub (ATOM) $ 10.79
okb
OKB (OKB) $ 47.07
monero
Monero (XMR) $ 153.65
the-open-network
Toncoin (TON) $ 1.87
ethereum-classic
Ethereum Classic (ETC) $ 18.31
stellar
Stellar (XLM) $ 0.089922
bitcoin-cash
Bitcoin Cash (BCH) $ 114.95
internet-computer
Internet Computer (ICP) $ 4.89
true-usd
TrueUSD (TUSD) $ 0.99984
filecoin
Filecoin (FIL) $ 4.63
lido-dao
Lido DAO (LDO) $ 2.21
aptos
Aptos (APT) $ 8.45
hedera-hashgraph
Hedera (HBAR) $ 0.052583
quant-network
Quant (QNT) $ 110.54
arbitrum
Arbitrum (ARB) $ 1.22
crypto-com-chain
Cronos (CRO) $ 0.060601
vechain
VeChain (VET) $ 0.020542
near
NEAR Protocol (NEAR) $ 1.62
apecoin
ApeCoin (APE) $ 3.20
ggtkn
GGTKN (GGTKN) $ 0.112323
the-graph
The Graph (GRT) $ 0.126073
algorand
Algorand (ALGO) $ 0.151322
the-sandbox
The Sandbox (SAND) $ 0.552428
paxos-standard
Pax Dollar (USDP) $ 0.998938
frax
Frax (FRAX) $ 0.999709
edgecoin-2
Edgecoin (EDGT) $ 1.00
eos
EOS (EOS) $ 0.901227
aave
Aave (AAVE) $ 67.11
rocket-pool
Rocket Pool (RPL) $ 49.53
elrond-erd-2
MultiversX (EGLD) $ 36.83
render-token
Render (RNDR) $ 2.50
fantom
Fantom (FTM) $ 0.326967
decentraland
Decentraland (MANA) $ 0.481688
theta-token
Theta Network (THETA) $ 0.877019
tezos
Tezos (XTZ) $ 0.94191
blockstack
Stacks (STX) $ 0.627632
axie-infinity
Axie Infinity (AXS) $ 7.07
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,041.81
flow
Flow (FLOW) $ 0.751765
havven
Synthetix Network (SNX) $ 2.42
immutable-x
ImmutableX (IMX) $ 0.759564
neo
NEO (NEO) $ 10.67
bitdao
BitDAO (BIT) $ 0.512744
usdd
USDD (USDD) $ 1.00
kucoin-shares
KuCoin (KCS) $ 7.50
gala
GALA (GALA) $ 0.029891
radix
Radix (XRD) $ 0.07021
curve-dao-token
Curve DAO (CRV) $ 0.857431
whitebit
WhiteBIT Token (WBT) $ 4.79
gatechain-token
Gate (GT) $ 4.91
bitcoin-sv
Bitcoin SV (BSV) $ 34.19
conflux-token
Conflux (CFX) $ 0.311396
bitget-token
Bitget Token (BGB) $ 0.463187
iota
IOTA (MIOTA) $ 0.224543
kava
Kava (KAVA) $ 1.13
injective-protocol
Injective (INJ) $ 7.48
klay-token
Klaytn (KLAY) $ 0.19081
bittorrent
BitTorrent (BTT) $ 0.00000060546222
gemini-dollar
Gemini Dollar (GUSD) $ 0.996597
maker
Maker (MKR) $ 638.08
pepe
Pepe (PEPE) $ 0.000001
sui
Sui (SUI) $ 1.04
casper-network
Casper Network (CSPR) $ 0.049309
chiliz
Chiliz (CHZ) $ 0.100274
huobi-token
Huobi (HT) $ 3.20
mina-protocol
Mina Protocol (MINA) $ 0.568885
tokenize-xchange
Tokenize Xchange (TKX) $ 6.45
pax-gold
PAX Gold (PAXG) $ 1,950.14
optimism
Optimism (OP) $ 1.52
terra-luna
Terra Luna Classic (LUNC) $ 0.000086
frax-share
Frax Share (FXS) $ 6.86
marumarunft
marumaruNFT (MARU) $ 0.249968
gmx
GMX (GMX) $ 56.26
dash
Dash (DASH) $ 43.29
compound-ether
cETH (CETH) $ 38.24
ecash
eCash (XEC) $ 0.000025
tether-gold
Tether Gold (XAUT) $ 1,938.55
trust-wallet-token
Trust Wallet (TWT) $ 1.09