Are NFTs seeing a revival in different 'avatars', though?
, the weekly trading volume of NFTs dropped to $114 million in September. This is a massive drop of 98 percent, considering that the weekly trading volumes at the end of January were still around $6.2 billion.
Trading volumes, however, have reduced across platforms with even OpenSea seeing a 75 percent drop in its sales from just two months ago. It is likely that the drop in the price of the cryptocurrency, especially ETH, which is preferred for NFT transactions, may also be responsible.
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