Can Ethereum NFTs return from the brink of a downfall

ReadBased on the data from the blockchain analytics platform, Blur stamped its dominance over OpenSea, as it recorded a $407.67 million volume all through the month. OpenSea and OpenSea Pro combined, on the other hand, fell short with a volume of $120.52 million.However, the fall of NFTs in the Ethereum ecosystem has been impeding for a while. Before July, the market was in an ebb-and-flow state, with a decline commanding the flow for most of the year.

Besides the fall in volume, trading activity on these marketplaces has also decreased. According to Dune’s dashboard, the percentage of unique users on each on OpenSea, Blur, and the rest of theAs a result of this decline, the number of independent addresses involved in Ethereum NFT transactions reached a two-year low.A look at DappRadar’s data showed that almost all marketplaces in the Ethereum ecosystem registered a decline in traders in the last 30 days.

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