• btc = $70 202.00 - 920.06 (-1.29 %)

  • eth = $3 742.69 8.04 (0.22 %)

  • ton = $6.32 -0.29 (-4.39 %)

  • btc = $70 202.00 - 920.06 (-1.29 %)

  • eth = $3 742.69 8.04 (0.22 %)

  • ton = $6.32 -0.29 (-4.39 %)

27 Jul, 2022
1 min time to read

The global NFT industry recorded a 25 per cent drop in terms of buyers and volume of sales in the second quarter of this year, with bearish trends dominating the market.

In total, about $8 billion worth of NFTs were purchased in the second quarter, which is 25 percent less than $10.7bn spent in the first quarter, according to NonFungible.com, an NFT market analysis platform that tracks the Ethereum blockchain.

The market is experiencing a historical bearish period. Liquidity is down and prices are very largely affected by the fall in value of cryptocurrencies. For the first time in the history of NFTs, trading-related activities are no longer profitable,

the company said in a statement.