OpenSea NFT Marketplace Trading Volume Plunges 99% Since May | Crypto

OpenSea NFT Marketplace Trading Volume Plunges 99% Since May

-OpenSea, the most popular NFT marketplace, has seen a 99% decline in trading volume since May 2021.
-The decline in NFT trading volume has coincided with a 57% decline in the price of Bitcoin and a 59% decline in the price of Ethereum.
-The floor prices for popular NFT collections have also declined significantly since their peak in 2021.
-A spokesperson for OpenSea said that the company is “not that concerned about short-term volatility” and that they “always expected frothiness, hype, and deflation as the community and use cases evolve.”
-A study from Pew Research Center found that only 16% of U.S. adults have invested in cryptocurrency, nearly the same number who said they had invested last September.

GettyImages 1239947088 e1661791782893 OpenSea NFT Marketplace Trading Volume Plunges 99% Since May

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