NFT Volume: How to Find and Evaluate It on Different Blockchains

If you're a collector or investor looking to gain insights into the market trends of NFTs, you might be wondering how to find the volume of a collection of NFTs. NFT volume is the total value of all the NFTs in a particular collection that have been sold or traded over a specific time period. In this blog post, we'll show you a simple way to find NFT volume on different blockchains using the indexer.xyz API.

Using the indexer.xyz API to Find NFT Volume

To find the volume of a collection of NFTs on Aptos, Near, or Stacks, we can use the following query in the indexer.xyz API

query MyQuery {
  aptos {
    collection(order_by: {usd_volume: desc}) {
      slug
      smart_contract {
        contract_key
      }
      usd_volume
      volume
      verified
      title
      cover_image
    }
  }
}

This query will return a JSON object with an array of collections sorted by USD volume in descending order. Each object in the array will contain details such as the slug, smart contract address, USD volume, volume in native cryptocurrency, verification status, title, and cover image of the collection.

To find NFT volume on other blockchains, simply replace "aptos" in the query parameter with the name of the desired blockchain. For example, to find NFT volume on the Near blockchain, replace "aptos" with "near". Similarly, to find NFT volume on the Stacks blockchain, replace "aptos" with "stacks". This will allow you to use the same GraphQL query structure to access NFT volume data on different blockchains.

Understanding the Query Results

In our response, we see three collections of NFTs with their respective USD volumes and token volumes. The first collection is called Aptos Monkeys and has the highest USD volume at over 4 million dollars. The second collection is called Aptomingos, with a USD volume of around 1.5 million dollars/ Finally, we have Bruh Bears, with a USD volume of over 800,000 dollars.

{
  "data": {
    "aptos": {
      "collection": [
        {
          "slug": "aptos-monkeys-f932dcb9",
          "smart_contract": {
            "contract_key": "0xf932dcb9835e681b21d2f411ef99f4f5e577e6ac299eebee2272a39fb348f702::Aptos%20Monkeys"
          },
          "usd_volume": 4014542.4245876414,
          "volume": 46187507389478,
          "verified": true,
          "title": "Aptos Monkeys",
          "cover_image": "<https://x.mypinata.cloud/ipfs/bafybeig6bepf5ci5fyysxlfefpjzwkfp7sarj6ed2f5a34kowgc6qenjfa/5879.png>"
        },
        {
          "slug": "aptomingos-c0e3fbf8",
          "smart_contract": {
            "contract_key": "0xc0e3fbf8ae61056d66ce624d71ccf1888f879355cc4e364ef117249b5e3160a8::Aptomingos"
          },
          "usd_volume": 1465079.3167109664,
          "volume": 17100692989481,
          "verified": true,
          "title": "Aptomingos",
          "cover_image": "<https://byzantion.mypinata.cloud/ipfs/bafybeidlvhvnnnl3zznatgio6gvd3xsss5uszc7fuwzsqn2ttzknosnxly/821.png>"
        },
        {
          "slug": "bruh-bears-43ec2cb1",
          "smart_contract": {
            "contract_key": "0x43ec2cb158e3569842d537740fd53403e992b9e7349cc5d3dfaa5aff8faaef2::Bruh%20Bears"
          },
          "usd_volume": 819804.5868680335,
          "volume": 11368529673204,
          "verified": true,
          "title": "Bruh Bears",
          "cover_image": "<https://bafybeih6hezn7yyabgunclxhi5xa2sbfd6gnnc6un3lilcufq5yyywlpqm.ipfs.nftstorage.link/3197.png>"
        }
      ]
    }
  }
}

Now that we have this data, we can use it to make informed decisions about our NFT investments. If we're looking for a collection with high trading volume and liquidity, Aptos Monkeys might be a good choice. On the other hand, if we're interested in a more affordable option with a still impressive trading volume, Bruh Bears might be worth considering.

Why Does Trading Volume Matter?

Essentially, trading volume comes down to supply and demand. If a particular NFT collection has high trading volume, it means there are many buyers and sellers actively trading these tokens, which creates a more liquid market. This can be beneficial if you're looking to buy or sell NFTs quickly or at a fair market value.

Higher trading volume in NFT collections can also be an indicator of trust within the market. Collections with high trading volume may be perceived as more reputable and established, which can increase buyer confidence in the authenticity and value of the NFTs being traded. As a result, high volume collections may be more likely to attract serious collectors and investors, further driving up the value of the NFTs within those collections.

Other Factors to Consider

In addition to trading volume, it's also important to consider other factors when investing in NFTs. These might include the rarity of the tokens, the quality of the artwork, the reputation of the creators, and the potential for future growth and appreciation in value.

Conclusion

Finding the volume for a collection of NFTs can provide valuable information for making informed buying decisions. By using a GraphQL query like the one we've explored here, we can easily access this data and use it to evaluate different NFT collections. However, it's important to consider other factors beyond just trading volume when making collector decisions and to always do your research and due diligence before collecting any NFTs. If you're interested in finding NFT volume on Aptos, Near, or Stacks, give the indexer.xyz API a try today!