The month of February had several 796,009 NFT buyers, which accounts for about $2.6 billion worth of sales. This is a great decline from what was recorded months before.
NFTs buyers in February fell below 800,000 in their number, for the first time since October, and nonfungible search volume fell dramatically.
According to CryptoSlam data, there were 796,009 NFT buyers in secondary markets in February (down 12% from January), accounting for around $2.6 billion in sales (down 40 percent on the month before).
However, given that January was a record-breaking month for NFTs, the February declines may be merely part of a healthy retreat. In January, there were a total of 904,13 unique secondary NFT purchasers, and OpenSea had a record sales volume of over $5 billion in January, before dropping to around $3 billion last month.
However, according to Google Trends, the global keyword search volume for “NFTs” has also decreased dramatically. Interest rates have decreased by 60-70 percent in the last week, compared to late January highs (Jan. 23- Jan.29.)
Despite local tech and telecommunications giant
NFT buyers in February fell below 800,000 in their number, for the first time since October, and nonfungible search volume fell dramatically.
According to CryptoSlam data, there were 796,009 NFT buyers in secondary markets in February (down 12% from January), accounting for around $2.6 billion in sales (down 40 percent on the month before).
However, given that January was a record-breaking month for NFTs, the February declines may be merely part of a healthy retreat. In January, there were a total of 904,13 unique secondary NFT purchasers, and OpenSea had a record sales volume of over $5 billion in January, before dropping to around $3 billion last month.
However, according to Google Trends, the global keyword search volume for “NFTs” has also decreased dramatically. Interest rates have decreased by 60-70 percent in the last week, compared to late January highs (Jan. 23- Jan.29.)
Despite local tech and telecommunications giant Rakuten launching an NFT marketplace late last month, the United States has the most interest in NFTs globally at the time of writing. Japan, on the other hand, has the least interest in NFTs out of 61 countries.
Andrew Steinwold, a supporter of the NFT and managing partner of the NFT investment fund Sfermion, compared the current decline to the bull market and subsequent crash of 2017/2018 and questioned whether interest will start up again anytime soon.
Although leading platform OpenSea was the victim of a $1.7 million back in February, among other problems, it is unclear why general interest has fallen so substantially in the last month.
The crisis between Russia and Ukraine may have altered attention to cryptocurrencies since the focus appears to have turned to use cases like digital payments, fundraising, and keeping value in uncertain times.
March So Far
According to CryptoSlam’s research, 10 of the top 12 NFT-supporting blockchains have seen a drop in sales volume in the last 24 hours. Ethereum and Solana, the top two coins, have lost 4.24 percent and 11 percent, respectively, while Avalanche and Panini have lost 27.79 percent and 36.20 percent, respectively.
Flow rated third, and Arbitrum, ranked sixth, are the only networks to gain ground, with advances of 20.89 percent and 539 percent, respectively.
NFT buyers in February fell below 800,000 in their number, for the first time since October, and nonfungible search volume fell dramatically.
According to CryptoSlam data, there were 796,009 NFT buyers in secondary markets in February (down 12% from January), accounting for around $2.6 billion in sales (down 40 percent on the month before).
However, given that January was a record-breaking month for NFTs, the February declines may be merely part of a healthy retreat. In January, there were a total of 904,13 unique secondary NFT purchasers, and OpenSea had a record sales volume of over $5 billion in January, before dropping to around $3 billion last month.
However, according to Google Trends, the global keyword search volume for “NFTs” has also decreased dramatically. Interest rates have decreased by 60-70 percent in the last week, compared to late January highs (Jan. 23- Jan.29.)
Despite local tech and telecommunications giant Rakuten launching an NFT marketplace late last month, the United States has the most interest in NFTs globally at the time of writing. Japan, on the other hand, has the least interest in NFTs out of 61 countries.
Andrew Steinwold, a supporter of the NFT and managing partner of the NFT investment fund Sfermion, compared the current decline to the bull market and subsequent crash of 2017/2018 and questioned whether interest will start up again anytime soon.
Although leading platform OpenSea was the victim of a $1.7 million back in February, among other problems, it is unclear why general interest has fallen so substantially in the last month.
The crisis between Russia and Ukraine may have altered attention to cryptocurrencies since the focus appears to have turned to use cases like digital payments, fundraising, and keeping value in uncertain times.
March So Far
According to CryptoSlam’s research, 10 of the top 12 NFT-supporting blockchains have seen a drop in sales volume in the last 24 hours. Ethereum and Solana, the top two coins, have lost 4.24 percent and 11 percent, respectively, while Avalanche and Panini have lost 27.79 percent and 36.20 percent, respectively.
Flow rated third, and Arbitrum, ranked sixth, are the only networks to gain ground, with advances of 20.89 percent and 539 percent, respectively.
Rakuten launches an NFT marketplace late last month, the United States has the most interest in NFTs globally at the time of writing. Japan, on the other hand, has the least interest in NFTs out of 61 countries.
Andrew Steinwold, a supporter of the NFT and managing partner of the NFT investment fund Sfermion, compared the current decline to the bull market and subsequent crash of 2017/2018 and questioned whether interest will start up again anytime soon.
Although leading platform OpenSea was the victim of a $1.7 million back in February, among other problems, it is unclear why general interest has fallen so substantially in the last month.
The crisis between Russia and Ukraine may have altered attention to cryptocurrencies since the focus appears to have turned to use cases like digital payments, fundraising, and keeping value in uncertain times.
March So Far
According to CryptoSlam’s research, 10 of the top 12 NFT-supporting blockchains have seen a drop in sales volume in the last 24 hours. Ethereum and Solana, the top two coins, have lost 4.24 percent and 11 percent, respectively, while Avalanche and Panini have lost 27.79 percent and 36.20 percent, respectively.
Flow rated third, and Arbitrum, ranked sixth, are the only networks to gain ground, with advances of 20.89 percent and 539 percent, respectively.
