OpenSea Turns Into NFT Ghost&Town After Volume Downs 99% In 3 Months

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OpenSea Turns Into NFT Ghost-Town After Volume Downs 99% In 3 Months

A continuing debt issue at lending platform BendDAO raises the prospect of the NFT bubble imploding. As concerns about a potential market bubble mount, daily volumes on OpenSea, the world’s most significant nonfungible token (NFT) marketplace, have dropped significantly.
OpenSea Volume Plummets to Yearly Lows
Notably, the marketplace executed about $5 million in NFT transactions on August 28 — roughly 99% less than its record high of $405.75 million on May 1. The precipitous decreases in daily quantities coincided with equally sharp drops in OpenSea users and transactions, implying that the value and interest in blockchain-based …
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Sep 2, 2022 – 00:00

A continuing debt issue at lending platform BendDAO raises the prospect of the NFT bubble imploding. As concerns about a potential market bubble mount, daily volumes on OpenSea, the world’s most significant nonfungible token (NFT) marketplace, have dropped significantly.

OpenSea Volume Plummets to Yearly Lows

Notably, the marketplace executed about $5 million in NFT transactions on August 28 — roughly 99% less than its record high of $405.75 million on May 1. The precipitous decreases in daily quantities coincided with equally sharp drops in OpenSea users and transactions, implying that the value and interest in blockchain-based …

Read The Full Article On CryptoCurrencyNews.com

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Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.

All content provided by Crypto Currency News is subject to our Terms Of Use and Disclaimer.

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