OpenSea, a leading marketplace for NFT collectibles, has witnessed its highest trading volume in over a month after seeing a spike in sales over the weekend. Toad avatars, pixel-based this time, seem to be the rage with collectors.
Data from Dune Analytics shows OpenSea logged $136.8 million worth of NFT trading volume on Sunday, marking the highest single-day tally since September 5, when $138.5 million was traded.
After declining for much of September, trading volume on the market has risen in the last week.
August marked the best month to date for Ethereum's marketplace, which amassed more than $3.5 billion in trading volume--more than ten times more than the month of July, which had previously been its best month.
During August's surge, nearly $323 million worth of NFTs were traded in a single day, according to NFT data.
Axie Infinity and CryptoPunks, projects that don't trade on OpenSea, as well as top collections like Art Blocks experienced fewer trades last month.
NFTs act as a deed of ownership for any item that can be stored in the digital world, whether it is an image, video, or something else entirely.
OpenSea's final sales exceeded $3 billion between Ethereum and Polygon-based sales, in spite of recent doom and gloom about the market.
Despite these surprising NFT sales, prominent new NFT collections are still dropping and selling out — such as an Art Blocks Ringers NFT that fetched $6.9 million in ETH on Saturday.
“48 ETH spent on CrypToadz #123. A rare 'Licked - Warped' toad that I vibe with. Love the colors. That takes the pool to 98 ETH spent, and 122 ETH left,” Beanie (@beaniemaxie) tweeted.
The CrypToadz collection by GREMPLIN debuted in September and sold over $17.7 million worth of NFTs during its first week. It was one of the collections launched recently that sold out.
There have been several days when sales on the secondary market totaled less than a million dollars. Last week's sales surge culminated in a surge on Sunday on the price floor as well as a boom in trading.
As per CryptoSlam data, over $19 million worth of CrypToadz were traded on Sunday, setting a new daily record.
The collection has generated 88 million dollars worth of trading to date. CryptoSlam says it is the most popular NFT collection for the day surpassing Axie Infinity by less than $1 million.
CryptoPunks and Art Blocks were among August's most popular NFTs.
As of this writing, the cheapest CrypToadz NFT costs 11.2 ETH, which equates to about $37,000. Both the average price and the price floor have jumped significantly over the last week.
Originally, CrypToadz was minted for just 0.069ETH, or a little over $225 today.