2022-11-05 15:15:27
NFT trading volume falls for sixth month in a rowCollectible tokens were sold for $460 million in October. Compared to a
record $4.7 billion worth of non-exchangeable tokens sold in January 2022, trading volume is down 90%. According to
Yehudah Petscher, NFT strategist at
CryptoSlav, the drop in volume is due to market uncertainty.
At the same time, according to the analyst, the prolonged bearish trend
on the crypto market may force the developers of various projects to create something new and develop the ecosystem of collection tokens, and look
for them more realistic application than just speculation.
Will Weinraub, CEO and co-founder of
OnChain Studios, said earlier that NFT projects need
to think through and prove practical value for their successful development.
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