🖼 The daily trading volume of #Ethereum #NFTs on OpenSea has dropped by 99% from the peak value in May 2022

Meanwhile, Donald Trump sold his NFT with a photograph after his arrest in August 2023 for $1 million (presumably, this is the remaining one percent of the market) and promised to embrace crypto in the US in case of winning the elections.

Recently, cryptocurrency has increasingly become a bargaining chip in politics, an interesting trend indeed. 🤔

🖼 The NFT market has completely collapsed

A recent market report from #NFTevening shows that 96% of collections are currently dead. The study included more than 5,000 collections and 5 million transactions. Experts analyzed trading volumes over the past 5 years, social media activity of the projects, and the PnL (profit and loss) for each holder.

Additionally, the report states:

📉 The average lifespan of a collection is 1.14 years, which is 2.5 times shorter than the average lifespan of other crypto projects.

🗓 In 2023, the highest number of "dead" #NFTs was recorded — one-third of all created collections.

🔽 On average, holders have incurred losses of 44.5%.

It seems that the remaining 4% of live and profitable projects are exclusively limited to collections from #DonaldTrump 🤔

#CryptoNews

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🔷 For example, this has occurred during hype around #NFTs on #Ethereum.

✅ Join our chat, where KickEX experts will answer any of your questions regarding trading and the exchange's operations.

#Glossary