NFT trading volumes rebound to $172m in December, driven by top collections and surging activity on Opensea, Blur, and Magic Eden.

NFT markets saw a notable rebound in December 2024, with monthly trading volume rising to about $172 million, according to Galaxy’s analysis of on‑chain data. The recovery followed a prolonged slump in NFT activity earlier in 2024 and was concentrated in a handful of leading collections and venues, rather than reflecting a broad-based resurgence across the entire sector. Collections at the top of the market accounted for a disproportionate share of both dollar volume and trader attention as liquidity rotated into more established names. Galaxy attributes much of the improvement to increased activity on major NFT marketplaces, specifically OpenSea, Blur, and Magic Eden, which collectively captured the bulk of December’s volume and helped stabilize market depth and price discovery. While the absolute level of trading remained far below the peak NFT boom of 2021–2022, the pickup signaled returning risk appetite among NFT traders and suggested that NFTs were still functioning as an active niche within the broader digital asset market. For market observers, the rebound matters as an indicator of speculative sentiment in crypto, as NFT volumes often move in tandem with liquidity conditions and trader confidence more broadly.

✨ AI-generated background, compiled from web sources — not editorial content.

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