Blend Launch Performance Analysis After One Week

Blend, as a newcomer in the NFT lending platform space, has shown impressive performance since its launch a week ago. Data indicates a substantial increase in loan volume by 370.5% compared to the previous week. In the NFT trading market, a particular trading platform accounts for as much as 74.6% of the trading volume, demonstrating its dominant position.

As of now, the Blend platform has completed 2,387 transactions, facilitating a total loan amount of 39,112 ETH. The average loan amount is 16.39 ETH. Currently, there are still 432 active loans involving 3,320 ETH. This means that 81% of the loans have been closed in the first week. It is worth noting that the current average loan size has decreased to 7.68 ETH, which may reflect an increased awareness among users regarding the risks of high-value loans.

From the perspective of the daily loan volume, there is a downward trend. The number of loans decreased from 499 on the first day to 295 on the seventh day. This may stem from a decline in novelty and an increase in risk awareness, while high gas fees may also be one of the influencing factors.

Despite the considerable trading volume, the actual number of participating users is relatively limited. There are only 574 borrowers and 501 lenders, reflecting the common phenomenon in the NFT market where "a small number of users account for the majority of trading volume."

In terms of the number of active loans for collectibles, Milady accounts for 62%, Azuki for 31%, and Punks for 7%. However, in terms of ETH loan amounts, Azuki accounts for 47%, Punks for 34%, and Milady for 19%.

Changes in the floor price of collectibles:

• Milady: 2.789 ETH → 3.63 ETH (+30.1%)
• Azuki: 15 ETH → 15.09 ETH (+0.6%)
• Punks: 50 ETH → 51.88 ETH (+3.76%)

Milady is the only NFT series that has consistently maintained an increasing floor price. Although Azuki and Punks initially showed an upward trend, they subsequently experienced a significant correction.

The Blend platform plans to introduce a new NFT series in the near future, which is expected to further enrich its ecosystem. This initiative is likely to bring new growth momentum to the platform and attract more users to participate.

Overall, Blend's performance in its first week has demonstrated the tremendous potential of the NFT lending market. However, market volatility and risk management remain important factors that require close attention. As the platform continues to develop and user experience accumulates, we have reason to expect that the NFT lending sector will usher in a more mature and stable development.