{"id":568354,"date":"2022-03-05T22:20:02","date_gmt":"2022-03-05T19:20:02","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=568354"},"modified":"2022-03-05T22:21:54","modified_gmt":"2022-03-05T19:21:54","slug":"nft-market-slumps-on-ethereum-and-solana","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/nft-market-slumps-on-ethereum-and-solana\/","title":{"rendered":"NFT Market Slumps As Trading On Ethereum And Solana Falls"},"content":{"rendered":"\n<ul><li>OpenSea sales recorded a slight decline in February.<\/li><li>The marketplace recorded sales worth $3.65 billion as compared to $5 billion reported last month<\/li><li>Meanwhile, Avalanche and Flow Blockchains continue to soar despite the current NFT market slump<\/li><\/ul>\n\n\n\n<p>The overall trading volume of NFTs recorded a slight slump in February, after gaining wider momentum in January 2022 in terms of the record-breaking sales <a href=\"https:\/\/hypebeast.com\/2022\/2\/opensea-new-record-nft-sales-january-2022\" rel=\"nofollow noopener\">worth<\/a> $5 billion.&nbsp;<\/p>\n\n\n\n<h2><strong>NFT Market Registers A Slight Fall In Overall Trading Volume<\/strong>&nbsp;<\/h2>\n\n\n\n<p>The leading non-fungible token marketplace OpenSea recorded NFT sales worth $3.65 billion on Ethereum and Solana blockchains, according to the <a href=\"https:\/\/dune.xyz\/rchen8\/opensea\" rel=\"nofollow noopener\">data<\/a> acquired from Web3 analytics platform Dune Analytics. The numbers denote a slight slump (nearly 27%) in NFT sales as compared to its previous sales record that surpassed $4.5 billion in January 2022.&nbsp;<\/p>\n\n\n\n<p>OpenSea recorded three solid days of sales with more than $200 million worth of Ethereum NFT trading. However, the chart denotes a downward curve suggesting a slight decline in sales as compared to the previous month.&nbsp;<\/p>\n\n\n\n<p>DappRadar data reported via <a href=\"https:\/\/decrypt-co.cdn.ampproject.org\/v\/s\/decrypt.co\/94264\/nft-market-cools-trading-ethereum-solana?amp_js_v=a6&amp;amp_gsa=1&amp;amp=1&amp;usqp=mq331AQKKAFQArABIIACAw%3D%3D#aoh=16464661116317&amp;referrer=https%3A%2F%2Fwww.google.com&amp;amp_tf=From%20%251%24s&amp;ampshare=https%3A%2F%2Fdecrypt.co%2F94264%2Fnft-market-cools-trading-ethereum-solana\" rel=\"nofollow noopener\"><em>Decrypt<\/em><\/a> further highlighted a decline of nearly 33% in Ethereum trading volume across the market, while Solana registered nearly 61% fall in its trading volume. The data further revealed that popular play-to-earn NFT game Axie Infinity&#8217;s Ronin chain slumped approximately 38% in February 2022.&nbsp;<\/p>\n\n\n\n<p>However, other blockchain networks saw considerable gains despite the wider slump reported in the NFT sector in February 2022. According to <a href=\"https:\/\/decrypt-co.cdn.ampproject.org\/v\/s\/decrypt.co\/94264\/nft-market-cools-trading-ethereum-solana?amp_js_v=a6&amp;amp_gsa=1&amp;amp=1&amp;usqp=mq331AQKKAFQArABIIACAw%3D%3D#aoh=16464661116317&amp;referrer=https%3A%2F%2Fwww.google.com&amp;amp_tf=From%20%251%24s&amp;ampshare=https%3A%2F%2Fdecrypt.co%2F94264%2Fnft-market-cools-trading-ethereum-solana\" rel=\"nofollow noopener\">sources<\/a>, Dapper Labs&#8217; Flow blockchain soared a striking 83% in February. The considerable rise of the network was accredited to the recent launch of UFC Strike NFTs, which stimulated the blockchain network.&nbsp;<\/p>\n\n\n\n<p>Similarly, the Avalanche network also gained further momentum in February by soaring nearly 20% in terms of the trading volume. The network&#8217;s popularity significantly shot up due to the launch of the Crabada NFT game.&nbsp;<\/p>\n\n\n\n<p>Pedro Hererra, senior blockchain analyst of Dappradar defined February as a month that is &#8220;pretty placid for NFTs.&#8221; In an interview with <em>Decrypt, <\/em>Herrero commented on the NFTs being diversifying as newer protocols such as Azuki and CloneX continue to emerge.<\/p>\n\n\n\n<p>&#8220;This, to me, says the space is slowly but surely diversifying and maturing,\u201d Herrero told Decrypt.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>OpenSea sales recorded a slight decline in February. The marketplace recorded sales worth $3.65 billion as compared to $5 billion reported last month Meanwhile, Avalanche and Flow Blockchains continue to soar despite the current NFT market slump The overall trading volume of NFTs recorded a slight slump in February, after gaining wider momentum in January 2022 in terms of the record-breaking sales worth $5 billion.&nbsp; NFT Market Registers A Slight Fall In Overall Trading Volume&nbsp; The leading non-fungible token marketplace [&hellip;]<\/p>\n","protected":false},"author":53,"featured_media":568356,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,108339],"tags":[1322,108184,108360],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/568354"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=568354"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/568354\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/568356"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=568354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=568354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=568354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}