Volume Traded by NFTs
This indicator measures historically the volume traded by NFTs. The first series is the cumulative volume that has been traded historically. The second series is measuring the daily traded volume by NFTs. The X axis is the date, and the Y axis measures the amount traded in dollars.
This indicator allows the gauge the demand of NFTs over long periods. As can be seen in the screenshot below, the phases of the NFT market can be perfectly distinguished with this indicator:
Volume Traded by NFTs indicator
If we set the dates from early 2021 until nowadays (late 2022) it can be seen how there have been several phases of large activity and more cooldown periods. For example, in the peak of the market in early 2022 NFT was trading more than $1B daily, while nowadays that volume is less than $100M. Signs of increasing and sustained trading activity could be a leading indicator that the demand in the NFT market is increasing and new phases of high trading activity might come.