Dune Analytics calculated that weekly NFT trading volume fell to $114.4 million, down 98% from January. At that time, the volume of NFT trading amounted to $6.2 billion.
This figure rose to an all-time high of $146.3 billion in April and fell sharply in May with the general decline in the cryptocurrency market.
The number of wallets holding at least one NFT has skyrocketed to 6.14 million from 3.36 million in January.
In January, most of the trading in dollar terms was on the LooksRare marketplace. By September, the situation had changed towards OpenSea.
With the drop in the value of ETH, the price of NFTs also dropped sharply. Now, for one token, on average, they give only $285, while at the beginning of January, the price was about $2,000.
Despite the market downturn, the global adoption of NFTs will continue thanks to innovative and unusual solutions, according to NFTGo. Mastercard released blue chip cards this week, and Tiffany & Co introduced charms for CryptoPunk holders. Not so long ago, the Austrian Post issued commemorative NFT stamps.
However, Dune Analytics concluded that the NFT market continues to deteriorate month by month, as the average weekly token trading volume has fallen by about 30% compared to August figures.
