Nansen shows that Solana NFT volume has still been on the rise, even with the shaky last few weeks in the wider crypto market.

Last week’s Ethereum on-chain stablecoin volume was $322.7 Billion, not quite a record, as the week that Luna collapsed, we saw a volume of $331.2 Billion.

(Nansen Data)

Nansen shows DeFi has been on the up in the midst of a rough week for crypto, with Hashflow leading the way at a 181% user change in the last 7 days.

Larger protocols like Aave and Compound have also seen an increase.

Nansen shows transactions on Optimism continue to rise despite the 1st airdrop of $OP already being released.

Perpetual Protocol leads the way for entities on the L2, with 174,854 transactions in the last 7 days 🥇

Elon replied to a tweet with an image of a dickbutt and since then the NFT collection has been on the rise.

A large portion of the highest user-change entities are those rumoured to have upcoming airdrops/tokens, including Arbitrum, zkSync and LayerZero.

The speculatoooors are out in full force.

Nansen shows that 5220 Bored Apes are currently in wallets that have never sold an ape, more than half of the supply 💎

Nansen shows that one wallet turned $9k into $55k worth of MATIC from flipping rare Reddit NFTs as crypto twitter started to catch on to their price movements.

Nansen data shows transactions on Arbitrum have been on the rise since late July with speculation of an airdrop and various protocols on the network becoming popular 👀

These are the top 5 most profitable NFT trader wallets according to Nansen. A large part of their profits were made from CryptoPunks and Art Blocks.

In fact, from a previous twitter thread I did, it seems very likely that Moin3au, Shaw and Ape123 are wallets owned by the same person 👀

Ethereum NFTs have had 8.37 Million ETH in total trading volume since the beginning of this year.

Using a rough average of $2000 as the price of ETH in this time period puts 8.37 Million ETH at close to $17 billion in volume 🔥

A wallet minted 141 CryptoPunks 1942 days ago for just 0.0207 ETH in gas. Nansen now estimates their value at over 11 thousand ETH.

However, this wallet has had no legitimate activity since.

Lost their seed phrase? 👀

Rare Azukis have been in demand in the past 30 days, with 8 being sold above 99 ETH to buyers that include one Nansen Smart DEX Trader labelled wallet, luggis.eth.

Luggis now holds 91 Azukis in total 👀

Four of the top five NFT collections by total all-time volume are under the Yuga Labs umbrella, with Azuki being the only exception.

CryptoPunks are still holding on to the top spot 🥇

From the DAO wallets labelled on Nansen, including OlympusDAO, ENS, BitDAO, Uniswap, AAVE and more, we put DAO holdings on Ethereum at over $9 billion in value.

After putting out a statement on October 6 about their decision to back SushiSwap and become more active in their community, Nansen data shows their address staking 5.3 million $SUSHI for $xSUSHI from their public wallet. This is over $7 Million USD worth at the time of writing.

Despite the bearish conditions, Ethereum transactions have remained at very similar levels to last year, hovering between 1 and 1.4 million per day.

Also, interestingly, the total gas spent daily is significantly lower than last summer despite similar transaction numbers 👀

Stablecoins as a % of Smart Money's holdings currently hovers between 20-30%, a large increase from this time last year (5-10%).

Worth noting that this increase in holdings % could, alongside them potentially being cautious, also be attributed to the fall in market wide prices, meaning stables now make up a larger value of their portfolios.

Smart Money is a label applied by Nansen to high-performing wallets, you can read more about our labels on the Nansen website.

After yesterday's CEX listings, including on Binance, the GMX token saw an increase in trading volume of over 35x from $6,523,954 to $231,465,960 🤯. You can see the huge spike in volume on Nansen's price chart above.

The token's price is now also currently up 26% in the past 24hrs at the time of writing.

Despite it feeling like last summer was the peak for NFTs, Nansen data shows recent users and transactions far exceeding those previous levels. Volume remains low as the wider market draws down but are we simply moving towards more reasonable, less-inflated, prices?

Buyers seem more cautious about spending large amounts but, based on transaction data, they seem willing to stick around, buying lower cost NFTs and remaining interested.

(Ethereum Data)