The markets for buying and selling non-traditional tokens (NFT) passed the moh of February with a significa decrease in their sales volume compared to previous mohs. This moh, only 796,009 NFT buyers were able to buy $2.6 billion of NFTs.
According to Coielegraph, the number of unique buyers of NFTs this moh fell below 800,000 for the first time since October. The search volume of non-homologous tokens has also decreased significaly.
According to this, in February, buyers of NFTs in the secondary markets were 12% less than in January, and their sales reached 2.6 billion dollars with a 40% decrease.
However, it is importa to meion that in January, these markets recorded huge sales and purchases, and the decrease in the volume of purchases in this moh may be just a natural correction. January recorded a unique record with 904,135 buyers. The OpenSea market also broke its record in January with 5 billion dollars in sales, although this amou decreased to about 3 billion dollars last moh.
Also read: 30% drop in the number of users of the largest NFT market in the world; Is the boom of the non-monogamous token market over?
It is noteworthy that by looking at Google Trends, we find that the global search volume for the keyword “NFTs” has decreased significaly, i.e. about 60-70% compared to the end of January.
The greatest ierest in NFTs was observed in the United States, and despite Japan‘s telecommunications gia Rakuten late last moh creating a marketplace for buying and selling NFTs, people in that coury showed the least ierest in NFTs out of the 61 couries surveyed. .
Andrew Steinwold, a fan of NFTs and managing partner of the NFT Sfermion investme fund, compared the curre decline in sales volume to the market situation in 2017/2018 (2016/2017), which was also a bullish market and then We saw a subseque fall. The answer to the question whether this ierest rate will increase again or not will be decisive here.
Steinold added:
NFT search volume worldwide has plummeted from its peak. This reminds me of the cryptocurrency bull market of 2017 (2015) and the bear market of 2018 (2016). When will this trend of decreasing atteion level rise again? Or will it remain the same?
Although the OpenC market fell victim to a $1.7 million hack last moh, this or other specific issues cannot be attributed to the decline in public ierest in NFTs.
The conflict between Russia and Ukraine may also have shifted the focus from NFTs to cryptocurrencies; Because global atteion seems to be focused more on applications such as digital paymes, fundraising and store of value in uncertain times.
Status in the curre moh
Over the past day and night, out of 12 blockchains that support NFTs, 10 of them faced a decrease in sales volume. Ethereum has decreased by 4.2% and Solana by 11% in the last 24 hours. But Avalanche with 27.79% and Panini with 36.2% have the biggest decrease. Flow and Arbitrum, which have grown by 20.89% and 539% respectively in the last day and night, are the only profitable networks in the last day.
