Hedera Blockchain's NFT Market Sees Significant Growth

Hedera Blockchain TVL and NFT Growth

The Hedera Blockchain network has experienced a noteworthy surge in its total value locked (TVL), reaching $23.3 million. This increase is largely attributed to the expanding NFT market on the platform, which has shown resilience despite broader market challenges. Notable within this space is the Hangry Barboons NFT collection, amassing $2.1 million in HBAR within the past month.

Rising HBAR Token Value

The native HBAR token has also benefited from this uptick in activity, witnessing an 11% rise in value, now priced at $0.0495. This growth reflects increased investor interest and confidence in Hedera's blockchain capabilities.

NFT Activity on the Rise

Recent reports indicate a substantial increase in NFT-related activities on Hedera. Active users and transactions have reached all-time highs, with a 90% rise in active users and a 107% increase in transactions quarter-over-quarter. This trend demonstrates the platform's growing appeal to both creators and traders in the NFT space.

Sources of Hedera's TVL

Most of Hedera's TVL is driven by the liquid staking solution, Stader. Additionally, decentralized exchanges (DEXs) such as SaucerSwap, HeliSWap, and Bubbleswap contribute significantly to the network's TVL. This diversified growth in assets supports Hedera's stability and continued expansion.

Consistent Month-over-Month Growth

Hedera has maintained a steady increase in TVL, recording a monthly growth rate of 10–15%. This consistent performance highlights the network's robust infrastructure and its ability to thrive amid volatile market conditions.

In summary, Hedera Blockchain's NFT market and its associated token, HBAR, are experiencing significant growth. This development underscores the platform's potential as a leading player in the evolving crypto landscape.