Magic Eden, the prominent NFT marketplace, has clinched the top spot in NFT trading volume for the month of April, surpassing Blur for the first time since its inception.

As per a recent report by DappRadar, Magic Eden soared to a remarkable $486 million in trading volume last month, eclipsing Blur's figures by $108 million.

Analysts attribute Magic Eden's exceptional performance to the overwhelming support garnered by Ordinals, trading tokens issued through the protocol, which accounted for a staggering 70% of the market volume.

Furthermore, the introduction of the new Diamond rewards program and Magic Eden's enduring partnership with Yuga Labs, a leading NFT studio, have contributed significantly to the platform's success.

The surge in popularity of digital collectible assets on Bitcoin, such as Ordinals and Runes, is evident from the entry of UniSat and OKX NFT Marketplace into the top five trading platforms in the segment in April.

Despite its dominance in the NFT space, OpenSea has experienced a decline in trading volume, raising questions about its ability to keep pace with its competitors. The evolving landscape promises to be an intriguing narrative to observe in the coming months.

In terms of collections, Runestone has overtaken Bored Ape Yacht Club to claim the top spot, reflecting the dynamic nature of the NFT market.

Moreover, the total trading volume of NFT collections on Bitcoin surged by 32% in April, reaching an impressive $675 million, positioning the Bitcoin blockchain as the second-largest in trading volumes after Ethereum.

DappRadar's experts underscored the burgeoning popularity of Blast, noting its appeal to traders by offering opportunities to farm points for future airdrops associated with the new deployment of Blur on the protocol.

Despite a slight dip in total NFT trading volume to $1.35 billion in April, marking a 13% decrease from the previous month, the market continues its steady trajectory towards the $1 billion mark observed since December 2023.