Mix Is The Third Biggest Holder Of “Fat Penguin” Plump Penguins NFT
Key Points:
- Blend has dominated the NFT lending market ever since it was first introduced.
- It is currently the contract that holds the third most “Fat Penguin” Pudgy Penguins NFT.
- The volume on all NFT loaning stages right presently is $375 million, so Mix alone has a 82% portion of the overall industry.
Blend’s attraction may be driving the stagnating capital inflow into the NFT segment, which is still the dominant platform in the market at the moment.
DappRadar’s analysis of on-chain data reveals that the lending platform for NFT marketplace Blur, Blend, has generated $308 million in loan volume in its first 22 days, or 169,900 ETH. With a $375 million volume, Blend now holds an 82% market share of all NFT lending platforms.
The development team said that Blend is a lending solution that lets NFT holders use their assets as collateral to borrow ETH from other people. In particular, Blend will establish peer-to-peer connections between borrowers and lenders.
A number of well-known NFT projects, such as Pudgy Penguins, Clone X, Otherdeeds, Bored Ape Kennel Club, Kanpai Pandas, and Redacted Remilio Babies, have received loan funding announcements from Blend.
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OpenSea’s main competitor and the world’s largest NFT exchange and aggregator is Blur, which is expanding quickly. Before the new Blend, Blur pioneered a paradigm shift with its order book function, greatly enhancing NFT traders’ convenience, and found ways to deviate from conventional NFT exchange trading strategies.
In addition, the platform’s total locked value has reached a new high of over $26.5 million, which is a significant advancement for the new NFT lending protocol.
Even though Blend is expanding rapidly, there are still concerns about the volume spike it causes, which leads to an unstable market and makes it difficult to predict price movements.
Besides, the issue of wash exchanging on Obscure is as yet a hotly debated issue. According to the DappRadar report, wash trading has been identified for more than $19 million just in the past week. The exchange itself also had a big launch with “huge” airdrops, but most people only used it for “interactive farming,” which made many people doubt the exchange’s real quality.
