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NFT trading volume plunges massively

Is the NFT hype finally over?

By Finst News
• 1 min read
NFT trading volume plunges massively

Is the NFT hype finally over? The drop in sales at OpenSea point to it. This comes from a chart by Dune Analytics.

Dune NFT decline

In September the volume was a mere $347 million. For comparison: at the height of the hype in January this year, the volume was about 15 times higher, at $5.9 billion.

Despite the drop in trading, auction house Christie’s plans to launch an NFT marketplace on the Ethereum network. That makes Christie’s the first auction house in the world to offer NFT sales that take place entirely on the blockchain. Also, Coinbase has entered into a long-term partnership with the U.S. organizer Bright Moments to open a new NFT gallery in Berlin.

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