In line with the most recent analytical information, the overall NFT market quantity within the second quarter of 2023 is predicted to say no by 38% from the earlier quarter to roughly $2.9 billion.

As well as, the information additionally present that NFT gross sales within the second quarter of 2023 can be round 18.6 million, down 9.2% from the primary quarter.

Blur nonetheless maintains a dominant place within the NFT market, however transaction aggregation platform buying and selling quantity in Q2 was nonetheless down 34% from the earlier quarter. Against this, his second-largest NFT market, OpenSea, was hit more durable, with buying and selling quantity he plummeting by greater than 56%.

Nonetheless, two NFT markets, the Immutable X Market and the JPG Retailer, bucked the pattern, with transaction volumes growing by 37% and 64%, respectively.

Daprada famous that buying and selling quantity is just not strongly correlated with market pleasure, and {that a} decline in buying and selling quantity doesn’t essentially point out a decline in market curiosity or exercise.