Ethereum NFT Trading Volume Hit Two-Year Low

Ethereum NFT Trading Volume Hit Two-Year Low

Last month, activity on the marketplaces OpenSea, Blur, LooksRare, and X2Y2 dried up, causing the monthly trading volume of Ethereum-based NFTs to fall to its lowest point in two years.

According to The Block’s data dashboard, trading volume dropped to $407 million in August from July’s $599 million, a 32% decrease, and the lowest trading volume since June 2021.

The loss was headed by X2Y2, which fell 40% month over month, while trading volumes for Blur, OpenSea, and LooksRare fell 38%, 18%, and 8%, respectively.

(With inputs from Shikha Singh)

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