Decoding Ethereum NFT gas trends
Name
Decoding Ethereum NFT gas trends
Description
The Ethereum NFT landscape has undergone significant shifts, with gas usage for NFTs plummeting from over 30% to below 4% of network activity since January 2023. While established platforms like Blur and OpenSea maintain relative dominance, others like Rarible and SuperRare lag behind. The overall NFT market faces challenges from layer-2 solutions and changing market dynamics.
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Cover
Date
06
Month29
Day2024
Year06
:50
am
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Referenced by
Will Ethereum NFTs Make a Comeback?
Crypto
Article
In 2021, major spikes in gas consumption for NFT transactions on the Ethereum network signaled a notable rise in the crypto market and heralded the start of a bull run.
Crypto
News event
Claim
The overall gas usage for NFTs on the Ethereum network has dramatically decreased from over 30% to below 4% since January 2023 reflecting shifts in market dynamics and increased adoption of alternative blockchain solutions.
Crypto
News event
Claim