In 2023 Q2, the Complete Transaction Quantity of the NFT Market Fell to Much less Than 3 Billion U.S. {Dollars}, a Drop of Almost 40% From the Earlier Month

The newest evaluation information reveals that the whole transaction quantity of the NFT market within the second quarter of 2023 will drop to roughly US$2.9 billion, a quarter-on-quarter drop of 38%.

As well as, the information additionally reveals that NFT gross sales within the second quarter of 2023 will probably be roughly 18.6 million, a lower of 9.2% from the primary quarter.

Blur nonetheless maintains a dominant place within the NFT market, however the transaction aggregation platform’s transaction quantity within the second quarter nonetheless fell by 34% from the earlier quarter. In distinction, OpenSea, the second largest NFT market, was hit more durable, with a pointy decline in transaction quantity Greater than 56%.

Nonetheless, the 2 NFT markets of Immutable X Market and JPG Retailer have bucked the development, with transaction quantity rising by 37% and 64% respectively.

Dapprader identified that the correlation between transaction quantity and market pleasure is just not robust, and the decline in transaction quantity doesn’t essentially point out weakening curiosity or exercise out there.