🔶More than $30 billion in NFT transaction volume on Ethereum is virtual transactions

According to the analysis of anonymous researchers, virtual transaction volume will account for more than half (58%) of the total NFT transaction volume on Ethereum in 2022. The researchers first filtered out obvious NFT transactions between the same wallet addresses. Secondly, back-and-forth transactions of the same NFT between two different wallet addresses were studied, which is one of the most common virtual trading strategies. Third, if a wallet address purchases the same NFT three or more times, it is unlikely to be marked as a virtual transaction due to this situation. Finally, if the wallets of the buyer and seller in an NFT transaction were originally funded by the same wallet, it is obvious that there is a connection between them and therefore is marked as a virtual transaction. The increase in virtual trading activity has been attributed to increased competition among NFT markets for market share in trading volume.