NFT transaction volume dropped 20% MoM – when measured in USD – but the number would have come down to 6% if viewed in the native tokens of the NFTs. It shows that theIt’s worth noting that
espite the plunged floor prices of blue-chipped projects like BAYC and MAYC, the NFT space did not lose momentum as new protocols continue to attract volume from investors.In terms of marketplaces, OpenSea’s dominance declined along with the rising competition derived from Solana-based The report further noted that despite the recent contraction occurring in the NFT space, the rapidly growing sector has been in a consolidation stage since it peaked in January this year, and its engagement with non-crypto-native populations has changed the current crypto landscape.