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NFT Trading Volume Falls by 97 percent Since January

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29-09-2022

Trading activity for non-fungible tokens (NFTs) has drastically decreased after reaching an all-time high in January of this year, falling by about 100%. According to Bloomberg, who used data from Dune Analytics, the trade volumes decreased 97% from their all-time high. To be more specific, they decreased from $17 billion at the start of 2022 to $466 million in September.


The top 5 NFT collections by sales volume over the previous 24 hours, according to NFT data aggregator CryptoSlam, are Bored Ape Yacht Club (BAYC), Gods Unchained Immutable, Sorare, Mutant Ape Yach Club (MAYC), and CryptoPunks. Volumes for these have ranged from $5.7 million for CryptoPunks to $711,488 for BAYC.


With sales of $9.5 million over the previous seven days, BAYC tops the list, followed by MAYC with $4.8 million. Fifth-placed CryptoPunks has $3.6 million in revenue. When looking at the previous 30 days, BAYC is still in first place with sales of $34.5 million, but Axie Infinity remains in first place overall with $4 billion in sales. With $2.5 billion, BAYC comes in second, closely followed by CryptoPunks and MAYC.