This significant selling pressure could further drive down the floor prices of these NFT collections.Besides these concerns, there has been a substantial decline in the overall number of NFT trades occurring on the Ethereum network. This has resulted in a significant decrease in gas usage, indicating reduced participation and interest.
The combination of these factors raises questions about the sustainability of and continued interest in the NFT market. It suggests that the initial hype and excitement surrounding NFTs may be fading, leading to a potential slowdown in trading activity and market participation.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: