NFT lending has had its strongest month, with $444 million in monthly volume throughout January. The surge in NFT activity is part of an NFT resurgence, according to a new report by NFTGators. A total of 319,641 Ethereum users sold 1,132,681 NFTs. 224,719 Polygon users traded. The average NFT on Ethereum traded for $1390. The sale price of the polygon was just $69.
Ethereum traders spent an average of $4,920, while polygon traders invested $483. The average loan value of 4,399 loans was 4 ETH per loan. The activity has reduced the cost of NFT loans by 61Ethik, 5 per lender. Report: 17,900 ETH was distributed through 4,300 loans. Eight million dollars back, eight million loans in interest.
According to the CNN report database, interest rates are the highest in the world. Borrowers pay an average of $90 per loan in interest payments, compared to $94 per loan. The loan volume declined to less than one thousand ETH per month during the NFT bull run in 2021. The volume had previously peaked shortly before the Terra rally. ETH had been on the market for a year before the tiafina bull run.
