Lined:
- Ethereum V. Polygon
- Q3: 1 / 4 of misses
The craze that surrounded profile image NFTs (PFPs) in 2021 dwindled considerably as per information from Dune Analytics. In keeping with the blockchain analytics platform, month-to-month NFT buying and selling quantity on OpenSea had declined by 93% from the all-time excessive of $4.86 billion in January.
The final 9 months have been stuffed with ups and downs for the crypto and NFT markets alike. Nevertheless, a large transfer to the south results in questioning the occasions of the previous.
OpenSea Ethereum vs. OpenSea Polygon
As of 30 September, the month-to-month NFT buying and selling quantity for Ethereum [ETH] on OpenSea dropped by 32%. In keeping with information from Dune Analytics, OpenSea Ethereum registered a gross sales quantity of $339 million within the final 30 days. In August, this stood at $502 million.
Additional, the entire gross sales quantity logged throughout the interval into consideration represented the bottom gross sales quantity since July 2021. For context, OpenSea Ethereum closed Q3 with a 36% decline in gross sales quantity.
Supply: Dune Analytics
Quite the opposite, gross sales quantity for OpenSea Polygon was higher off within the final 30 days. Roughly 6.97 million was generated in gross sales on the community throughout September. This was solely a 2% drop recorded from the $6.84 million in gross sales quantity in August.
Nevertheless, on a quarter-on-quarter foundation, OpenSea Polygon skilled its worst quarter but as of 2022. Polygon closed Q3 with a 75% decline in gross sales quantity from the earlier quarter.
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Supply: Dune Analytics
With the autumn in sale quantity on OpenSea Ethereum, it was not shocking that the amount of NFTs offered on the community throughout the 30-day interval fell as nicely.
Representing the bottom depend in Q3, information from Dune Analytics confirmed that 1.3 million NFTs had been offered on the community within the final 30 days.
Supply: Dune Analytics
OpenSea Polygon, nevertheless, informed a distinct story. The depend for complete NFTs offered on the community within the final 30 days stood at 141,726, a 40% development registered from the 84,971 recorded in August.
Supply: Dune Analytics
Moreover, within the final 30 days, OpenSea Ethereum noticed an index of 355,985 lively month-to-month merchants. This was a ten% decline from the 392,789 recorded in August and a 16% drop in lively month-to-month merchants on the community in Q3.
However, contemplating OpenSea Polygon, the index for lively merchants within the final 30 days went up by 27% and by 17% through the quarter.
Q3: 1 / 4 of misses
In keeping with information from NFTGo, the entire market capitalization of the NFTs market grew by a meager 0.07% within the final 90 days. At press time, this determine stood at $22.23 billion.
Gross sales quantity, nevertheless, fell significantly through the quarter. With a gross sales quantity of $1.6 billion recorded on all NFTs transactions within the final three months, a 78% decline in NFTs gross sales was registered.
Supply: NFTGo
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*This text initially appeared in AMB Crypto