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 t...
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Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
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 LowsNotably, 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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This nft story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
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