NFT NBA Top Shot Trading Volume Reaches $ 4.5 Million

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NFT trading volume on the NBA Top Shot platform surged over the weekend to $ 4.5 million on October 15 following the launch of the Run It Back collection.

According to Crypto Slam, daily sales on the NBA Top Shot market jumped more than 440% in one day, from $ 829,520 on October 14 to $ 4.5 million the next day. The previous such surge was recorded on August 7.

The Run It Back collection features videos highlighting key moments in the history of professional basketball, as well as videos featuring the stars of the 2005-2006 season.

NBA Top Shot reported on Twitter that over 9,000 NFT Run It Back were sold in 24 hours at seven purchases per minute. Each NFT with a level of exclusivity ranging from Common to Rare started at $ 169.

Trading activity on the platform peaked in the first quarter of 2021, with $ 45.7 million in trades completed on February 22 within 24 hours.Since then, the monthly volume has dropped dramatically.

After a splash over the weekend, Top Shot became the fifth project in terms of NFT trading volume in 24 hours – more than $ 2 million. The first place is occupied by Axie Infinity with a volume of transactions worth over $ 18 million, and the second is CryptoPunks with a 24-hour trading volume of about $ 4 million. Kaiju Kingz is in third place, and MekaVerse is in fourth.

In early October, startup Dapper Labs, which launched the NFT NBA Top Shot collection, announced a partnership with analyst firm Chainalysis to track NFT transactions.

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