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A wave of uncertainty has permeated the NFT space since the cataclysmic events in blockchain last spring. Major marketplace OpenSea has seen its volume drop by 99% since hitting a record high on May 1st.st.
At the time, OpenSea was doing well, seeing astronomical numbers within its trading volume metrics. As a result, on May 1, in just 24 hours, he had $405 million traded on the platform. But according to Boffin above, Dapp Radarby August 28, that number had decreased to midnight$5 million easilythe wider digital collectibles market has been bearing the brunt of the recent recession.
Uncertainty over the ongoing crypto bear market remains the main driver of the plunge, with many users wary of the possibility of losing money in both dollars and cryptocurrencies at the same time. However, many judicious uses of non-fungible tokens, such as asset-backed NFTs, are largely unaffected.
Exacerbating the overall NFT situation, lending platforms such as BendDAO are facing difficult times. Essentially, we see the floor price of their collateral approaching perilously close to the value of the loan they issued.lowest price Some of the largest collections in the industry.
However, while the chips fall and have their backs against the wall, the best projects in town will continue to be built. please give me.
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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
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