Galaxy Research: The non-fungible token market is showing signs of recovery, with about 90% of the transactions occurring on the Blur and OpenSea platforms

BlockBeats News, on December 18th, Galaxy Research stated in a report on Monday that the Non-fungible Token (NFT) market is showing signs of recovery. Data cited in the report shows that for most of this year, Non-fungible Token volume has been declining, but with the rebound in the Cryptocurrency market following the US election, the volume in November started to reverse. In early November, the weekly Non-fungible Token volume exceeded $100 million for the first time since May, reaching $172 million on December 2nd. Analyst Gabe Parker wrote, ‘This recovery is mainly driven by increased activity in the top 25 Non-fungible Token collections by market cap, with increased participation from major markets such as OpenSea, Blur, and Magic Eden. Among them, Blur and OpenSea account for 60% and 27% of the total volume in the past 30 days, respectively.’