The NFT market plummets 92%

In the first quarter of 2022, the sale of these crypto assets has fallen 47% from the previous quarter and more than 90% from its peak in September of last year.

NFT market data portal has published its latest report on the trading of this type of crypto assets showing that the buying and selling fever of last year has completely deflated.

The number of sales has fallen from just over 14 million in the last quarter of 2021 to 7.44 million, which represents a drop of 46.96%. But the figure is much more alarming if we compare it with the high point of the NFT negotiations. In September of last year, the trade of this type of crypto asset amounted to 225,000 million dollars on average daily. This last week the average has been 19,000 daily, which represents a market collapse of 92%.

NFT buyers have decreased by 31% in the last three months

Another piece of data that shows that the market is no longer so attractive for investors is the fall of buyers by 30.91% and sellers by 15.61%.

Active wallets, the necessary tool to carry out transactions in the NFT market, have also fallen by 25.34% compared to the last quarter of last year. But as with the sales volume, if we compare it this last week with its highest point, in November of last year, the drop is 88%.

Less profit and sales at a loss

Another piece of information that the report shows is the number of investors who have shed their NFTs by selling at a loss and the drop in profits made on the sales. Profits fell 3.38% from the previous quarter. Viewed on a weekly basis, the report indicates that weekly profit volume has dropped significantly over the last two quarters, going from several successive peaks of $400 million in weekly profit to just $100 million. millions of dollars.

Losses on NFT resales increased 49.4% to $1,235 million

However, losses on NFT resales rose 49.4% to $1,235 million. This convergence between the decrease in profits and the increase in losses “suggests that profitability is much more difficult to achieve than before in NFT trading,” they say from the specialized website.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button