NFT volume on Hedera soars despite brutal bear market
NFT collections on Hedera are growing significantly, with several collections doubling in volume. The top NFT marketplace crossed over 100 million in HBAR volume a few days ago.
The NFT market on Hedera appears to be showing healthy growth, with several collections hitting milestone transaction volumes. Among them is the Hangry Barboons collection, which passed $2.1 million in HBAR volume in the last 30 days.
Other collections that have been on the rise are Planck Epoch, Return Pass and Gangsters Paradise. The latter has been particularly strong in the past month, with over 1.6 million HBAR volume. The best collections on the market are Dead Pixels Ghost Club, Hangry Barboons, CyberHedera Gen 1 and HBAR Shady’z Gen-01.
So far, NFTs on the Zuse Market have topped volumes of over 100 million, reaching the milestone on November 24. Unique weekly buyers on Zuse Market range between 200 and 600, while unique sellers average around 1,400.
Zuse Market is an NFT launch pad and marketplace built on Hedera. The marketplace was launched in February 2022 and has made significant progress since then, increasing volume since Q2 2022.
Hedera was in the news in Q3 for the fact that LG announced the launch of LG Art Lab, which is built on Hedera. The company is a member of the Hedera Governing Council.
Hedera experienced strong TVL growth in the 3rd quarter
Hedera has also experienced an increase in the total value locked. Currently, that number is $23.3 million, with liquid betting solution Stader accounting for the bulk of that. DEX’s SaucerSwap, HeliSWap and Bubbleswap account for most of the rest in volume. Hedera has added a steady growth of 10-15% month-over-month in terms of TVL.
At the end of Q3, Hedra had over $100 million in TVL, which was an increase of 171% quarter over quarter. Since the market crash, these numbers have fallen, but the HBAR price indicates that there is optimism in society.
HBAR goes up on positive news
The price of the original HBAR asset has risen quite noticeably over the past seven days. It started last week at $0.044 but has risen to $0.0495 – an 11% increase.
One reason for this price increase in recent months is the fact that native HBAR staking launched in October. The HBAR token has been the recipient of a number of good news in recent months, starting with a Coinbase listing.
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