NFT OpenSea Trading Volume Drops 50%
In August, the NFT token market showed rapid growth, reaching an all-time high. However, in September we see a completely different picture.
NFT OpenSea's trading volume after the August growth of $ 4 billion, over the past week, against the backdrop of a negative trend in the cryptocurrency market, showed a decrease of 50%. Compared to the previous week, trading by the group of 156,800 platform users fell to $ 792 million, down 10%.
OpenSea is the largest and one of the most popular platforms for creating, selling, buying and trading NFTs. Despite the decrease in trading volume, it remains the leader, well ahead of its main competitors Axie Infinity with $ 158 million in transactions and CryptoPunks with $ 46 million.
In order to avoid panic, negatively affecting market trends. Using the same analysis methods, when looking at a 30-day trading period, we can see that despite the overall decline, the volume of transactions on the OpenSea platform increased by about 337%.
As a reminder, an unpleasant event took place at OpenSea this week. During the transfer of ERC721, NFT's client assets, worth $ 100,000, were damaged. Despite the prompt resolution of the problem and material compensation, this is an unpleasant fact.
NFTs are blockchain-based rare digital collectibles, artwork, songs, poems, sounds, memes, tweets, domains, and more.
Make history, trade and earn on OpenSea .
Coin Shark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investments in it can lead to losses. Readers should do their own research before taking any action.