March 2024 NFT Marketplace Recap

In March 2024, the NFT market saw a 9.9% increase in trading volumes, rising by $68 million to $749 million. The recent inclusion of Magic Eden’s $58 million in trading volume in our analysis would bring the total volume to $807 million. 

Both Blur and OpenSea saw small declines in their market share, down to 70.8% and 19.7%, respectively, from 74.2% and 20.2% in February. The main reason for this is the surge in trading volume on CryptoPunks, which has more than doubled since February, pulling its market share up to 7.8% from 3.1%.