Since the project’s inception in October 2021, BloctoBay has seen massive liquidity in the saturated NFT market.
BloctoBay, one of the most lively marketplaces driving the Flow blockchain, had a fantastic month in March. In the last seven days, the NFT market has seen a total volume of $41.84 million.
Although this statistic appears to be high given to the bearishness experienced in the cryptocurrency markets so far in 2022, the total volume recorded in the last 30 days is significantly more amazing. BloctoBay’s overall volume from the first week of February to the second week of March is roughly $176.37 million.
What is the significance of BloctoBay volume?
NBA Top Shot sales skyrocketed in the first quarter of 2021, following its release in 2020. This resulted in the NFT market outpacing the Flow blockchain’s first popular NFT collection, CryptoKitties, which was launched in 2017.
The volume of NBA Top Shots in the last seven days was $4.44 million, while the volume in the last 30 days was $36.94 million. BloctoBay led NBA Top Shot by 89 percent and 79 percent in the previous week and month, respectively.
What’s going on in the Flow ecosystem?
Flow now boasts one of the most active ecosystems in the NFT space. Unlike BloctoBay, which lets users to buy, sell, and discover all of the NFT offered by the Flow network, NBA Top Shot simply allows you to purchase, sell, and collect the top NBA scoring moments.
Flow’s ecosystem continues to grow, and the project is currently ranked in the top 20 when development activity is taken into account.
Flow trails projects such as Solana, Cardano, Polkadot, Chainlink, Ethereum, and Internet Computer, among others, with a development activity value of 164.3.
As a result, by the end of 2022, Flow could have additional products in the decentralized financial and non-fungible token arena.