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The third week of May sees NFT make a resurgence. With new initiatives and marketplaces catering to various niches, NFT activity is increasing. NFT buyers and sellers are drawn to well-known platforms like OpenSea, Nifty Gateway, and SuperRare.

Despite a trading low of $1783.78 during the week, Ethereums strength stands out when compared to other crypto. Lets check on the weekly NFT report.

The NFT market cap decreased by 6.66% in the third week of May compared to the prior week, falling to $4.15M. In addition, the trading volume for NFTs fell noticeably by 26.99% to 64.85K ETH, indicating that the market cap and trading activity for NFTs decreased during this time.

NFT holders increased by 0.86% to 4.422M in the third week of May, reflecting a slight increase over the prior week. Additionally, the number of NFT traders increased significantly during the same period, rising by 41.67% to 51.238K.

Buyers rose by 30.32% to 25.615K, indicating higher buying activity. Sellers too increased significantly by 46.39% to 32.548K, meaning more people were selling NFTs during this time.

The number of unique active wallets (UAW) on the OpenSea platform significantly increased by 10.16% in the third week of May to 63.98K. In addition, the number of transactions also increased by 9.8% to 169.51K.

However, trade volume dropped within the same period, falling by 15.79% to $25.58M. The smart contract balance, on the other hand, increased minimally by 0.66% to $68.92K, showing a generally steady trend.

Positive trends in trading activity were observed in the third week of May on the Blur market. Unique Active Wallets increased by 19.21% to 11,96K total. Furthermore, the volume of transactions increased by 14.1% to 32.58K.

The trading volume did experience a slight reduction, though, falling by 6.77% to $139.94M. However, the smart contract balance increased positively by 9.17% to $117.32M, demonstrating an increase in the total amount of funds stored within the platform.

These figures indicate that the Blur market gained in UAW and transactions despite a minor decline in trading volume. The smart contract balances upward trend suggests that investors interest in the platform is still strong and could remain so.

OpenSea and Solanart experienced changes in their NFT markets during the third week of May.

The average price of NFTs on OpenSea surged by 101.01% to $48.83. However, there was a 24.12% decline in the number of traders while the trade volume increased noticeably by 79.2% to $31.51K.

NFTs average price on Solanart dropped from 64.3% to $28.77. However, Solanart saw a 12.32% decrease in the number of traders and a 10.14% marginal rise in trading volume to $6.08K.

The average price of NFTs on OpenSea fell by 8.4% to $30.16. However, the number of traders climbed by 4.75% to 36.859K, while trading volume decreased by 14.22% to $2.97M.

The average price of NFTs on Rarible skyrocketed to $215.67, an increase of 637.57%. This increase in value caused the number of traders to rise significantly by 129.06% to 1.182K, which was a considerable increase. Additionally, the trade volume surged by 1,699.49% to $404.72K. Rarible stands out as a platform with outstanding growth and market interest in NFTs throughout this time.

During the third week of May, the OKX NFT Marketplace experienced tremendous growth and increased trading involvement. The average price of NFTs in the OKX NFT Marketplace increased noticeably by 39.95% to $ 33.59 and a significant increase of 137.13% in the number of traders to 1.558K. Additionally, the trade volume significantly increased by 183.03% to $155.32K.

The average price of NFTs in Aavegotchi increased significantly, jumping by 260.7% to $578.09. The number of traders fell by 1.97%, to 149, while the trading volume increased substantially, by 465.5%, to $142.48K.

On the other hand, the average price of NFTs dropped by 2.68% to $22.84 on Jump.trade. The number of traders fell by 32.11% to 241, but the trading volume rose by 24.89% to $31.2K.

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NFT News | Uptick the NFT Market | May Week 3 - NFT - Altcoin Buzz