According to BlockBeats, former Proof researcher punk9059 has reported on social media that the daily trading volume of OpenSea on the Ethereum NFT market is approximately 600 Ethereum. This is the lowest level since the NFT bull market began in May 2021. This figure represents a 99.1% decrease from the peak in May 2022, when OpenSea's daily trading volume reached 66,000 Ethereum.
OpenSea, a leading marketplace for non-fungible tokens (NFTs), has seen a significant drop in its daily trading volume on the Ethereum NFT market. The current trading volume is a stark contrast to the peak experienced in May 2022. The decrease in trading volume could be indicative of a shift in the NFT market, which has been characterized by high volatility and rapid growth in recent years.
The NFT market has been a hot topic in the cryptocurrency world, with many investors and enthusiasts drawn to the potential for high returns. However, the recent drop in trading volume on OpenSea could signal a cooling off period for the market. Despite the decrease, the NFT market continues to be an area of interest for many, with new projects and platforms continually emerging.
