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Cryptocurrency News

Looks bare: OpenSea turns into NFT ghost-town after volume plunges 99% in 90 days

08/30/2022

Less than a minute

2022.08.30 00:50

OpenSea, the world’s largest nonfungible token (NFT) marketplace, has witnessed a substantial drop in daily volumes as fears about a potential market bubble grow.

Notably, the marketplace processed nearly $5 million worth of NFT transactions on Aug. 28 — approximately 99% lower than its record high of $405.75 million on May 1, according to DappRadar.