NFT Trading Volume Plummets but Analysts Say NFT Craze Is Far From Over

Read full article by Muyao Shen here (9/9/21)

In short:

Daily trading volume on the top NFT marketplace has dropped by more than 80% over the past month.

“Daily trading volume on OpenSea, the largest non-fungible token (NFT) marketplace, has fallen dramatically from the $323 million peak in August to about $52 million Thursday, according to Dune Analytics.”

“This doesn’t mean the NFT season is just over yet,” Ong Joo Kian, research analyst at Delphi Digital, wrote in a market commentary to clients. “There’s still a lot of attention on the space.”

Some believe this dip in volume is temporary, with much more room to grow.