Blend One Week Performance Analysis: New Trends in the NFT Lending Market

Since its launch, the Blend platform has been operating for a week, and its performance has attracted widespread attention in the industry. Through in-depth analysis of the data, we can gain a comprehensive understanding of the development of this emerging NFT lending platform.

Data shows that the launch of Blend has brought significant growth to the NFT lending sector. Compared to last week, the loan volume increased by 370.5%, with a certain trading platform accounting for as much as 74.6% of the trading volume. This data fully reflects that Blend has gained market recognition in a short period.

As of now, Blend has facilitated 2,387 transactions with a total loan amount of 39,112 ETH. The average loan amount per transaction is 16.39 ETH, demonstrating the strong appeal of the platform. However, it is worth noting that there are still 432 active loans amounting to 3,320 ETH. This means that approximately 81% of the loans have been settled within the first week. Meanwhile, the current average loan size has fallen to 7.68 ETH, which may reflect an increased awareness among users regarding the risks of high-value loans.

Throughout the week, the daily loan numbers showed a downward trend, decreasing from 499 on the first day to 295 on the seventh day. This phenomenon may stem from a decline in novelty and an increase in risk awareness, and it may also be influenced by high Gas fees.

Despite the significant trading volume this week, the number of borrowers and lenders is relatively small, with only 574 and 501 respectively. This phenomenon is similar to the common situation in the NFT market, where a small number of users contribute to the majority of the trading volume.

In terms of NFT collectibles, Milady accounts for the majority of active loan volume (62%), followed by Azuki (31%) and Punks (7%). However, in terms of ETH value, Azuki holds the largest share (47%), followed by Punks (34%) and Milady (19%).

Observe the changes in the floor prices of these collectibles:

• Milady: Increased from 2.789 to 3.63 ETH, a rise of 30.1%
• Azuki: Rose slightly from 15 to 15.09 ETH, an increase of 0.6%
• Punks: Increased from 50 to 51.88 ETH, a growth of 3.76%

It is worth noting that Milady is the only NFT series that has maintained a continuous increase in floor price. In contrast, Azuki and Punks have experienced a significant pullback after an initial surge.

With the continuous development of the Blend platform, the market is looking forward to seeing more new series added. Industry insiders speculate that the next series to join Blend may be similar to Nakamigo. It is worth our continued attention to see how these newly added series will impact the development trends of the platform.

Overall, Blend's performance in its first week demonstrates the enormous potential of the NFT lending market, while also reflecting users' gradual awareness of risks. With further improvements to the platform and the gradual maturation of the market, we have reason to expect more innovations and developments in the NFT lending space in the future.