Trading volume on the NFT token exchange dropped from $16.6 billion in January to just $1 billion in June of this year.
According to The Block, the drop represents a 94% drop, showing just how far the crypto bear market is affecting NFT sales.
Most of the NFT trading volume at the beginning of the year. may be caused by trading in the market LookRare which is traded in wash trading
NFT floor prices have also dropped over the past few months. Leading projects such as BAYC, Doodles and Cool Cats have dropped about 30%.
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