The Burning of NFTs in the Cryptoverse

 

 (Reuters) – The NFT dream has suffered a severe non-fungible blow, yet it is still alive.
As cryptocurrency-rich speculators invested billions of dollars in hazardous assets, driving up prices and profits, the market sparkled magnificently last year. Currently, six months into 2022, it is awful.

On the biggest NFT platform, OpenSea, monthly sales volume plummeted to $700 million in June from $2.6 billion in May and a long cry from the high of over $5 billion in January.

NonFungible.com, which records sales on the Ethereum and Ronin blockchains, reports that by late June, the average NFT sale had dropped to $412 from $1,754 at the end of April.

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#cryptocurrency #crypto #forex #trading #NFT #Bitcoin

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