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Looks bare: OpenSea turns into NFT ghost-town after volume plunges 99% in 90 days

Published 08/29/2022, 06:33 AM
Updated 08/29/2022, 08:40 AM
Looks bare: OpenSea turns into NFT ghost-town after volume plunges 99% in 90 days
ETH/USD
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OpenSea, the world's largest nonfungible token (NFT) marketplace, has witnessed a substantial drop in daily volumes as fears about a potential market bubble grow.

Notably, the marketplace processed nearly $5 million worth of NFT transactions on Aug. 28 — approximately 99% lower than its record high of $405.75 million on May 1, according to DappRadar.

OpenSea users, volume, and transactions statistics. Source: DappRadar
BAYC floor price throughout history. Source: CoinGecko
ETH/USD three-day price chart. Source: TradingView

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