NFT Trade Plummets By 97 Per Cent Since Start of the Year

Trading volumes of NFTs, have fallen by 97 per cent from their peak in January this year, according to data from Dune Analytics.

The Bored Ape NFT recently bought by Eminem.

Trading volumes of non-fungible tokens, or NFTs, have fallen by 97 per cent from their peak in January this year, according to data from Dune Analytics.


The trade of digital, collectible artworks known as NFTs had soared massively in recent years. Recorded on blockchains, these pieces of code offered investors ownership of unique digital assets that often skyrocketed in value. The NFT market traded $17 billion in January 2022, around the time that OpenSea – the popular NFT market – was valued at $10 billion.

But that was before a broader, $2 trillion wipeout of value in cryptocurrencies, of which NFTs have been heavily reliant.

It means that the trading volume of NFTs was down to just $466 million in September.


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