Data provided by Dune Analytics stated that the weekly trading volume of non-fungible tokens (NFTs) across the blockchain sector has plunged to $114.4 million, as reported by Cointelegraph.
According to Cointelegraph, the number represents a fall of 98% from the $6.2 billion witnessed at the end of January. Weekly NFT trading volume reached an all-time high of $146.3 billion in early April, before falling in May post starting of an ongoing cryptocurrency bear market. However, total number of wallets containing atleast one NFT has increased to 6.14 million, compared to 3.36 million at the end of January. With regard to NFT marketplaces, there happened a change from the beginning of the year, for which marketplace LooksRare was responsible for majority of the dollar trading volume, which has since changed to OpenSea.
On the basis of information by Cointelegraph, the price of…
