Top NFT Marketplace Loses 99% Trading Volume OpenSea, the wor | NFT & Crypto Updates

Top NFT Marketplace Loses 99% Trading Volume

OpenSea, the world’s most popular NFT marketplace, is going through a rough patch. As per the data from blockchain-tracking service DappRadar, OpenSea witnessed a 99 percent drop in trading volumes since May 1. The trading figure plummeted from a whopping $2.7 billion in NFT sales to only $9.34 million, sparking concerns that the digital asset market might lose its charm. OpenSea sacked 20% of its employees in July this year. However, it refuted the 99% figure and told Fortune that it prefers measuring transaction numbers by Ethereum (ETH) volume alone, suggesting the volatile nature of the cryptocurrency.

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