The record sale of CryptoPunk 4464 is a glimmer of hope for investors in the grips of the bear market, while rising floor prices for blue chip NFT projects suggest that interest may be recovering.
Unfortunately for non-fungible enthusiasts, over the last three months, the NFT market capitalization suffered a drop of 32% while losing over 70% of its trading volume, according toMeanwhile, according to DappRadar the number of users on OpenSea — the largest NFT marketplace by volume — has
by nearly 9 % in the past month. By the end of last month, overall NFT trading volume on the platform had fallen roughly 65% to $500 million.While lower Ether prices have also driven down overall volume, the number of first-time NFT buyers has remained relatively consistent at around 5,000 users since March this year — suggesting that the market appeal for NFTs on the Ethereum network has been sustained.
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