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Data Show That Weekly NFT Trades Have Dropped Steadily
Summary: Weekly NFT trades have dropped steadily since their peak in February, according to data compiled by The Block. At its height on February 21, weekly NFT trading volume reached $196.4 million — $125.3 million (64%) of which came from the NBA TopShot NFT trading platform. On March 28, NFT trading volume dropped to $34.32 million. ...
Weekly NFT trades have dropped steadily since their peak in February, according to data compiled by The Block. At its height on February 21, weekly NFT trading volume reached $196.4 million — $125.3 million (64%) of which came from the NBA TopShot NFT trading platform.
On March 28, NFT trading volume dropped to $34.32 million. NBA TopShot trades still comprised nearly half of all NFT trading volume, but TopShot's volume was down to $15.23 million, or 12% of its peak volume.
Weekly users of the NBA TopShot platforms have also declined — a notable metric since this platform's users have in recent weeks made up more than 90% of all NFT platform users. The number of users of NBA TopShot’s platform dropped 70% from March 21 to March 28, which led to a corresponding 66% decrease in overall NFT transactions.
By Amy Liu
Tags: Data,NFT,Trading Volume
Link: Data Show That Weekly NFT Trades Have Dropped Steadily [Copy]
