OpenSea Daily Volume Plunges Below USD 1M as NFT Sales Sink
Source: AdobeStock / LIGHTFIELD STUDIOS Major non-fungible token (NFT) marketplace OpenSea has seen a steep drop in the daily sales volume , which recently plunged to below USD 1m. The drop comes as the broader NFT market has been spiraling downward and the prices of popular NFT projects have been plummeting. OpenSea's daily trading volume drop ped to around USD 837,000 on June 25, plunging to below USD 1m in more than a year, according to NFT data provider DappRadar . In comparison, the marketplace had notched more than USD 405.7m in sales at its peak in early May 2021. Moreover, the platform's sales volume has dropped by 72% over the past month alone, reaching USD 260m. In comparison, the marketplace generated USD 4.86bn in total trading volume in January this year, data collected by Dune Analytics shows. Similarly, the number of unique wallets interacting with OpenSea as well as its number of transactions have plunged to the lowest levels in more than...