The ETH Merge Did Little to Energize a Tepid NFT Market Ether | NFTs & DeFi 🗓
The ETH Merge Did Little to Energize a Tepid NFT Market
Ethereum continues its reign as one of the dominant blockchains for launching non-fungible tokens (NFTs), some speculated that its milestone transition from proof-of-work to proof-of-stake last week would help reinvigorate an NFT market that’s been trending downward for the better part of two months. NFT trading decreased overall, and this past week has been just slightly better. One of the industry's top marketplaces, OpenSea, has seen $84 million of volume in the past seven days for Ethereum-based NFTs, a 5.3% increase from the week leading up to the Merge, according to data from DappRadar.
