Home Coins OpenSea Turns Into NFT Ghost-City After Quantity Downs 99% In 3 Months

OpenSea Turns Into NFT Ghost-City After Quantity Downs 99% In 3 Months

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

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 …

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



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