{"id":22835,"date":"2022-04-01T14:02:43","date_gmt":"2022-04-01T13:02:43","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=22835"},"modified":"2022-04-01T14:02:52","modified_gmt":"2022-04-01T13:02:52","slug":"nft-trading-volume-on-opensea-drops","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/nft-trading-volume-on-opensea-drops\/","title":{"rendered":"NFT Trading Volume on OpenSea Drops For Second Consecutive Month"},"content":{"rendered":"\n
NFT<\/a> Trading Volumes on OpenSea dropped again for the second consecutive month. ETH trading volumes on the other hand took a bigger hit in March<\/h5>\n\n\n\n
\"NFT
NFT Trading Volumes on OpenSea Drops For Second Consecutive Month<\/figcaption><\/figure>\n\n\n\n

NFT Trading Volumes On OpenSea Weaker For Second Consecutive Month<\/h2>\n\n\n\n

The year 2022 began with a bang. NFT<\/a> trading volumes on OpenSea reached an all-time high in January.<\/p>\n\n\n\n

According to Dune Analytics, \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>ETH <\/use><\/svg><\/span><\/a>trading volume reached $4.97 billion in Januar<\/use><\/svg><\/span><\/a>y, surpassing the previous ATH of $3.42 billion set in August.<\/p>\n\n\n\n

However, trading volumes have dwindled since then. In February, ETH trading volume fell to $3.58 billion, remaining above August's previous high.<\/p>\n\n\n\n

\"NFT
NFT Trading Volumes on OpenSea Drops For Second Consecutive Month<\/figcaption><\/figure>\n\n\n\n

ETH trading volumes, on the other hand, took a bigger hit in March.<\/p>\n\n\n\n

According to Dune Analytics, ETH<\/a> trading volumes fell to $2.49 billion in March, compared to $3.42 billion in August and $4.97 billion in January.<\/p>\n\n\n\n

\"NFT
NFT Trading Volumes on OpenSea Drops For Second Consecutive Month<\/figcaption><\/figure>\n\n\n\n

A similar pattern was observed with the sale of OpenSea<\/a> monthly NFTs (ETH). OpenSea sold 1.80 million NFTs in March, down from 2.47 million in January.<\/p>\n\n\n\n

Factors Contributing To The Downward Trend<\/h2>\n\n\n\n

Several factors may have contributed to the downward trend in trading volumes at OpenSea. These could include rising cryptocurrency prices, increased illicit activity, and increased regulatory scrutiny.<\/p>\n\n\n\n

The peak of the NFT market in January coincided with the trough of the crypto market. Bitcoin (BTC) fell from an all-time high of $68,979 in November to a January and current year low of $32,991. Bitcoin has been on the rise since January, bolstering the broader crypto market.<\/p>\n\n\n\n

Following a 16.7 percent drop in January, Bitcoin increased by 12.2 percent in February and 9.0 percent in March.<\/p>\n\n\n\n

LUNA<\/a> had an even better couple of months. LUNA increased by 74.2 percent in February and 12.7 percent in March.<\/p>\n\n\n\n

\"NFT
NFT Trading Volumes on OpenSea Drops For Second Consecutive Month<\/figcaption><\/figure>\n\n\n\n

Finally, an increase in the number of NFT marketplaces could be a factor.<\/p>\n\n\n\n

LooksRare<\/use><\/svg><\/span><\/a> (LOOKS) launched this year in January, with January trading volumes reportedly exceeding OpenSea trading volume.<\/p>\n\n\n\n

The OpenSea NFT marketplace and others hoping for an increase in trading volumes and trading fees are not out of luck.<\/p>\n","protected":false},"excerpt":{"rendered":"

NFT Trading Volumes on OpenSea dropped again for the second consecutive month. ETH trading volumes on the other hand took a bigger hit in March NFT Trading Volumes On OpenSea Weaker For Second Consecutive Month The year 2022 began with a bang. NFT trading volumes on OpenSea reached an all-time high in January. According to […]<\/p>\n","protected":false},"author":29,"featured_media":22843,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[62],"tags":[5562,5565,5716],"class_list":["post-22835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nft-news","tag-eth-2","tag-nft-2","tag-opensea-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/04\/NFT-Trading-Volumes-on-OpenSea-Drops-For-Second-Consecutive-Month.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/22835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=22835"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/22835\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/22843"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=22835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=22835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=22835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}