NFT trading volume on OpenSea drops to 1-year low as crypto wi | NFTs & DeFi 🗓
NFT trading volume on OpenSea drops to 1-year low as crypto winter strikes
As concerns about the possibility of a market bubble mount, OpenSea, the world’s largest non-fungible tokens (NFTs) marketplace, has seen a significant decrease in the daily quantities of its trades. Notably, trading volume on the NFT marketplace fell as low as $10.05 million as of August 26, the lowest since July 2021, marking a one-year low as the effects of the crypto winter take hold. According to the most recent data from DappRadar shows that volume had marginally improved to $13.49 million as of August 30. Interestingly, this volume is a big difference from that seen in May 2022, when NFT trading volume on OpenSea surged as high as $405 million.
