Express

Data Show That Weekly NFT Trades Have Dropped Steadily

Amy Liu

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

Last Update:

Tags: ,,
Link: Data Show That Weekly NFT Trades Have Dropped Steadily   [Copy]
Next:

Related Articles

  • From Data Rights to Digital Property: Whistleblower Brittany Kaiser on Blockchain, RWA,... 3 days ago
  • The Base Chain's Ascent: How Deep Coinbase Integration and JPMorgan's Pilot Are Reshapi... 9 days ago
  • Tether in Trouble? U.S. Senate Just Passed a Law That Could Dethrone the $155B Stableco... 12 days ago
  • Justin Sun's Nasdaq Gamble: How Six Years Forged Ties with the Trump Family 13 days ago
  • The Crypto IPO Wave: From Fringe to Front Page 16 days ago

    • You need to login to comment.