OpenSea NFT Daily Trading Volume Drops 95% From 52-Week High
The daily trading volume of the popular marketplace for non-fungible tokens (NFTs), OpenSea, has reportedly dropped to its lowest level in the past 13 months as interest for these novel digital assets continues to tank. According to data from DappRadar, only $10.1 million worth of NFTs exchanged hands through the platform on 9 August compared to $184.5 million users traded exactly 7 months.
These daily volumes are the lowest recorded by the platform since July 2021 and they indicate that both the value of this so-called “digital art” and the number of transactions taking place have suffered dramatically as a result of the crypto winter. Top collections have also been experiencing severe downturns in both volumes and number of sales. For example, the popular Bored Ape Yacht Club NFTs have experienced a 13% drop in trading volumes in the past 30 days to $39.6 million as of today along with a 32%.
Source
@Metaverse_Defi_Nfts_Trading
