NFT monthly trading volume declines for 5th straight month crashing 97% since peak

The crash is in tandem with five months of consecutive decline as the interest around NFTs starts to wane. In particular, NFT monthly volume dropped to barely $466 million in September after reaching a high of $17 billion at the beginning of 2022, according to the statistics provided by hildobby on Dune Analytics. As a result of rapidly tightening monetary policy, investment flows are being cut off from speculative assets, contributing to a bigger wipeout in the crypto industry, seeing roughly $2 trillion leave the market since its peak in November 2021. world’s largest NFTs marketplace, saw a significant decrease in the daily quantities of its trades. Trading volume on the NFT marketplace fell as low as $10.05 million as of August 26.

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