• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

Historic Crypto Approval = New Bitcoin High Soon

2025-07-22

Altseason Ignites: Bitcoin Inflows, ETH Flip, and Saylor’s Bold Move

2025-07-22

Salty No-Coiner Hates Bitcoin

2025-07-22

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What Is Copy Trading in Crypto? A Beginner’s Guide

    2025-07-10

    A Step-by-Step Guide for Risk-Takers

    2025-07-09

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    2025-07-09

    How It Works and What to Watch Out For

    2025-07-09

    Crypto Risk Management Strategies for Trading (2025)

    2025-07-07
  • Videos

    Historic Crypto Approval = New Bitcoin High Soon

    2025-07-22

    Altseason Ignites: Bitcoin Inflows, ETH Flip, and Saylor’s Bold Move

    2025-07-22

    Salty No-Coiner Hates Bitcoin

    2025-07-22

    Bull Run Kickoff – Bitcoin and Crypto Set to Soar

    2025-07-22

    Something BIG is About To Go Down…Got Bitcoin?

    2025-07-22
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»Altcoins»Can Ethereum NFTs return from the brink of a downfall
Altcoins

Can Ethereum NFTs return from the brink of a downfall

2023-08-02No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email


  • The NFT volume on the blockchain reached its lowest since November 2022.
  • Blur dominated OpenSea but trading activity on both marketplaces decreased.

Once recognized as a thriving landscape of digital art and collectibles, the Ethereum [ETH] NFT market was now experiencing a period of turbulence as activity and volume took a notable downturn. According to Dune Analytics, the transaction volume across all Ethereum marketplaces plunged to the lowest since November 2022.


Read Ethereum’s [ETH] Price Prediction 2023-2024


Based on the data from the blockchain analytics platform, Blur stamped its dominance over OpenSea, as it recorded a $407.67 million volume all through the month. OpenSea and OpenSea Pro combined, on the other hand, fell short with a volume of $120.52 million.

Ethereum NFTs volume

Source: Dune Analytics

Addresses fall out of engagement

However, the fall of NFTs in the Ethereum ecosystem has been impeding for a while. Before July, the market was in an ebb-and-flow state, with a decline commanding the flow for most of the year.

Besides the fall in volume, trading activity on these marketplaces has also decreased. According to Dune’s dashboard, the percentage of unique users on each on OpenSea, Blur, and the rest of the marketplace fell compared to previous months.

As a result of this decline, the number of independent addresses involved in Ethereum NFT transactions reached a two-year low.

Unique users of Ethereum NFTs

Source: Dune Analytics

A look at DappRadar’s data showed that almost all marketplaces in the Ethereum ecosystem registered a decline in traders in the last 30 days. At press time, traders on Blur had decreased by 33.25%

Furthermore, traders on the OpenSea marketplace fell by 28.24%. However, other marketplaces including Rarible and the OKX Marketplace registered upticks in sales and number of traders respectively.

Ethereum marketplace traders

Source: DappRadar

Finding respite in the “Otherside”

Despite the drop in volume and activity, Bored Ape Yacht Club [BAYC] maintained the top position in sales. According to CryptoSlam, the Yuga Labs-backed collection recorded $25.71 million in sales.

See also  Here's what Elon Musk thinks about NFTs

Also, Yuga Labs had recently shown that it was not giving up on the NFT space in spite of the hawkish conditions. 


Realistic or not, here’s ETH’s market cap in BTC terms


On 31 July, the creator of BAYC and MAYC revealed that it was expanding its mission for the OthersideMeta collection. In doing this Yuga Labs noted that it was acquiring Roar Studios. It said,

“We are proud to announce Yuga Labs is acquiring Roar Studios, a music and metaverse startup led by long-time entertainment Executive, Eric Reid, to execute our expansive vision for OthersideMeta.”

Meanwhile, Ethereum NFT wash trading also fell. And according to crypto slam, the 30-day sales in this aspect were $279.10 million— a 61.79% decrease within the period.

Brink downfall Ethereum NFTs Return
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Should Trump Fire Jerome Powell? | Ethereum Pumps

2025-07-16

Ethereum vs Solana: ETH & SOL Potential in Altcoin Season!

2025-07-16

ETH to $10K? Insane Ethereum Price Predictions Just Dropped

2025-07-03

Bitcoin, Solana, and Ethereum to da moon trades…

2025-06-11
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Blockchain

GIFT City to host India’s first regulated global realty and infra-asset tokenization platform

2024-03-21

GIFT City may soon host India’s first regulated global realty and infra-asset tokenization platform. The…

Videos

🌪️ OCTA: Insane Bitcoin Flows & Market Round up

2024-12-17

JOIN THE FAMILY: http://www.patreon.com/investanswers IA MODELS: http://www.investanswers.io FREE INVESTOR …

Analysis

Bitcoin’s surge to $28k leads to $114M in liquidations in 24 hours

2023-10-02

The crypto market witnessed a tumultuous 24 hours between Oct. 1 and 2, seeing a…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

Historic Crypto Approval = New Bitcoin High Soon

2025-07-22

Altseason Ignites: Bitcoin Inflows, ETH Flip, and Saylor’s Bold Move

2025-07-22

Salty No-Coiner Hates Bitcoin

2025-07-22

Bull Run Kickoff – Bitcoin and Crypto Set to Soar

2025-07-22
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 115,367.91
ethereum
Ethereum (ETH) $ 3,636.06
xrp
XRP (XRP) $ 3.03
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 765.81
solana
Solana (SOL) $ 177.36
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.223784
staked-ether
Lido Staked Ether (STETH) $ 3,634.69
tron
TRON (TRX) $ 0.313882
bitcoin
Bitcoin (BTC) $ 115,367.91
ethereum
Ethereum (ETH) $ 3,636.06
xrp
XRP (XRP) $ 3.03
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 765.81
solana
Solana (SOL) $ 177.36
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.223784
staked-ether
Lido Staked Ether (STETH) $ 3,634.69
tron
TRON (TRX) $ 0.313882