- OpenSea Ethereum and OpenSea Polygon noticed declines in gross sales quantity, complete NFTs traded, and the variety of merchants.
- The final market noticed a 9% progress in gross sales quantity.
With $246 million recorded in NFTs gross sales quantity to date this month, information from Dune Analytics confirmed that Ethereum-based NFTs recorded their lowest gross sales on OpenSea because the 12 months began.
As extra customers transfer away from speculative asset courses, OpenSea, the main NFTs market, continues to see a decline in its market quantity and customers rely.
Hassle in paradise
Per information from Dune Analytics, Ethereum-based NFTs value $246 million have been traded on OpenSea this month. This determine represented a 23% decline from the $319 million recorded as gross sales quantity for Ethereum NFTs on {the marketplace} in October and a 94% drop from the $4 billion recorded in January.
Supply: Dune Analytics
In response to information from CryptoSlam, the gross sales quantity for Ethereum-based NFTs throughout all marketplaces to date this month totaled $364 million. This meant that gross sales on OpenSea alone accounted for over 80% of complete gross sales made.
Supply: CryptoSlam
For Polygon-based NFTs on OpenSea, information from Dune Analytics revealed that gross sales quantity totaled $6.35 million to date this month. This was a 55% decline from the $14 million recorded in October. In October, gross sales quantity for Polygon-minted NFTs rallied by 100%.
Supply: Dune Analytics
Moreover, this month, 716,443 Ethereum-minted NFTs have been traded on OpenSea. In October, the rely of Ethereum-based NFTs bought on OpenSea totaled 1.12 million.
This represented a 28% drop throughout the 30-day interval, information from Dune Analytics revealed. In January, the entire variety of NFTs bought on OpenSea Ethereum was 2.28 million.
Supply: Dune Analytics
Likewise, the rely of Polygon-based NFTs bought on OpenSea to date this month has fallen by 8%. Per information from Dune Analytics, this stood at 281,000. In October, the entire rely of Polygon-minted NFTs bought on OpenSea rallied by 110% on a month-over-month foundation.
Supply: Dune Analytics
With fewer individuals involved in profile-picture NFTs (PFPs), the rely of month-to-month NFTs merchants on OpenSea Ethereum has fallen by 16%. Because the month began, 280 merchants have traded Ethereum-based NFTs on OpenSea. In October, 335,000 merchants used the platform.
Apparently, on OpenSea Polygon, the rely of merchants went up by 27%. These merchants, nevertheless, traded fewer NFTs, therefore the autumn in complete NFTs traded and complete gross sales quantity.
Supply: Dune Analytics
In response to NFTGo, gross sales quantity throughout the whole NFTs ecosystem rallied by 9% within the final 30 days. Apparently, basic market capitalization fell by 1% throughout the similar interval.