According to DappRadar data, NFT trading volume on OpenSea is at its lowest level in the last 1 year.
The NFT market cannot break the downward trend it has been experiencing for the last 4 months. New statistics came from DappRadar, which recently announced that the transaction volume in all NFT markets remained below $ 1 billion for the first time since 2021.
OpenSea NFT Trading Volume Drops 99%
On the NFT market OpenSea, there has been a significant decrease in the daily volumes of trades.
The trading volume in the NFT market fell to $10.05 million as of August 26. OpenSea trading volume is at its lowest level since July 2021, driven by the decline in the crypto market this year.
The latest data from DappRadar shows that the volume in the market has increased to $13.49 million as of August 30. Trading volume on the leading NFT marketplace, OpenSea, has dropped 99 percent since its peak in May.
Looking at the general NFT markets, it is seen that the transaction volumes measured in July 2022 contracted with a decrease of 25 percent compared to the previous month. The number of users decreased by 8 percent compared to the previous month. Although the picture looks negative, the 900 billion dollar market is still 40 percent higher than the same period last year.
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