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Report: NFT Market Volume Fell 75% To $2 Billion in Q3

By WebsCryptoSeptember 26, 20221 Min Read
Report: NFT Market Volume Fell 75% To $2 Billion in Q3
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DappRadar recently released an NFT report, the main points are as follows:

Although the NFT market transaction volume decreased by 75% compared to the second quarter to $2 billion, the number of sales is expected to increase by 6% to 21.1 million by the end of the third quarter.

In the third quarter, the highest market capitalization (in USD terms) of Ethereum’s top 100 NFT projects fell 44% compared to the second quarter to $19 billion.

During the same period, ETH-denominated market capitalization fell only 27% to 12.21 million ETH. – 36% increase in the number of independent traders compared to Q3 2021.

Related:  Morgan Stanley Report Shows Bitcoin is a Speculative Asset, Not a Currency

In the third quarter, transactions on the Ethereum network accounted for 91% of the total NFT transaction volume, but only 26.2% of the number of sales. ImmutableX trading volume rose against the trend, increasing 87% compared to the second quarter.

As of September, Yuga Labs-related NFT series assets accounted for 46.21% of the entire NFT market value.

The floor price of Azuki series increased by 43.18% month-on-month to 11.4 ETH. CryptoPunks is the NFT series with the highest holding time, up to 239 days.

DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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