Since the beginning of the year, NFT sales have fallen by 97%

Crypto enthusiasts are finding it increasingly difficult to make money on strange images of monkeys or 8-bit pictures. According to Dune Analytics, from January to September 2022, NFT trading volume decreased from $17 billion to just $466 million.

The current trading volume is lower than in June last year, when the NFT craze began.

The data was collected from NET marketplaces, including OpenSea, NFTS, LarvaLabs, LooksRare, Super Rare, Rarible and Foundation.

OpenSea, currently the largest NFT trading platform by volume, recorded a 75% drop in sales compared to two months earlier.

Although the number of transactions has decreased significantly, the total number of traders has almost not decreased. This is indicated by data published by the user Dune Analytics hildobby. In September of this year, the total number of traders exceeded 42 thousand, which is not much less than the 45 thousand who traded in March.

But there is a decrease in other parameters. DappRadar data shows that the number of OpenSea users has decreased by almost 5% this month.

Much of this decline may be due to the declining popularity of the Bored Ape Yacht Club.

The project still attracts celebrities like Paris Hilton and Jimmy Fallon, but now it is inferior in rating to competitors such as Terraforms and CryptoPunks.

According to hildobby, the trading volume of Bored Apes for 1 week was 3,634 ETH compared to 12,202 ETH at Terraforms. In the lists of minimum prices for NFT, the market capitalization of BAYC tokens has fallen by more than 8%, although they have increased slightly in recent days.

According to Bloomberg, since the collapse of the exchange rate in May, the crypto winter has taken away almost $2 trillion from the crypto industry. CoinMarketCap data on cryptocurrencies such as ApeCoin and Tezos also show that both of them are in a relatively low price decline compared to the highs of spring 2022.

And even if fewer people earn on NFT now, accounts continue to be hacked. Jason Falovich, a former sports manager who trades NFT projects on behalf of Mark Kuban, said that four NFTs were stolen from his wallet on Sunday, and the hacker apparently made a profit of $150,000.

Later, he wrote on Twitter that as a result of the hack, he lost more than $ 1 million in ETH and NFT.