Weekly trading volume NFTs across blockchains has plunged to $114.4 million – a decrease of 98% from the top $6.2 billion of January.
Weekly NFT trading volume rose to an all-time high of $146.3 billion in April 2022 before falling off a sharp cliff in May with the start of crypto winter.
However, the number of wallets owning at least 1 NFT has skyrocketed to 6.14 million, compared to 3.36 million in January 2022.
NFT marketplaces also witness a massive change since the beginning of this year, as LooksRare has become the NFT marketplace with the highest volume which dethrone OpenSea.
The price of NFTs has also down sharply as part of a broader plunge in the price of Ether token (ETH), the most common crypto used to buy and sell digital collectibles NFTs.
