While the summer is hot, the NFT market is experiencing the coldest winter ever. According to CryptoSlam data, the NFT global sales volume declined 8% past week to $104M and declined over 40% past month to $428M.
Volume on top NFT market places continue shrinking, where Blur saw vloume dropped 22% in the past week to $63M, and Opensea volume fare a bit better with volume dropped around 1% to $22M per data from DappRadar.
Comparing these figures to those at the begining of 2023 puts things into an even worse perspective. In Feb and Mar 2023, global NFT trading volume was at $1.9 billion a month. The daily trading volume on Blur was over $50M at that time.
Floor prices of top-tier collections like Bored Ape Yacht Clube and Azuki sunk to two-year lows. Compared to last week, floor price of BAYC crashed over 22% to 22.5 ETH, and Azuki collapsed 30% to 3.5 ETH, other Blue chip NFT like Mutant Ape and DeGods all dropped over 20%.
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