NFT Market Trading Volume Crashes 97%
Fewer people have been buying and selling non-fungible tokens. As a result, the NFT market experienced a sharp decline in trading volume of 97%.
According to Dune Analytics, the volume crashed from $17 billion in January 2022 to $466 million in September. The former month marked the NFT market’s peak.
Weekly trading volume heightened to an all-time high of $146.3 billion in April 2022. Then, it crashed alongside the beginning of the current crypto bear market.
Other NFT market updates
Ownership of non-fungible tokens rose despite the trading decline. According to CoinTelegraph, the number of crypto wallets containing at least one NFT increased to 6.14 million.
In contrast,…
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