In a strong third-quarter showing, NFT whales on the BNB Chain ecosystem have sparked a resurgence in trading activity, despite a decline in the number of average daily buyers. Blockchain analytics firm Messari reports that NFT trading volumes on the BNB Chain surged to a daily average of $600,400, a 47% increase quarter-over-quarter, even as average daily buyers dropped 53% to just 2,300. This suggests that high-value transactions by “whale” investors were responsible for much of the volume increase, driving a comeback for NFTs on the network.
Meanwhile, Lamborghini’s Revuelto NFTs launched, and Infinex announced plans to integrate with OpenSea and Blur, promising listings of the top 500 crypto assets to enhance market accessibility.
In a significant legal development, OpenSea has avoided a securities lawsuit after two users alleged the NFT platform sold them unregistered securities. Florida Federal Court Judge Cecilia Altonaga sided with OpenSea, granting a motion to enforce arbitration rather than pursue litigation in court. Following this ruling, the plaintiffs, represented by attorney Adam Moskowitz, opted to dismiss the case, effectively ending their class-action claims.
The NFT market’s comeback and this legal ruling signal both renewed interest in NFTs and a reinforced framework for legal disputes involving digital assets. The NFT market continues to evolve as major players and high-value transactions bring fresh momentum to the space.
Source | Photo Credits: Cointelegraph
