NFT Momentum Stagnant, Bored Ape and CryptoPunk Drop Below USD 100K

Previously, the number of users and daily sales on the non-fungible token (NFT) market fell over the past week. Data analytics platform Dune revealed that NFT sales hit new lows not seen since July 2021.

According to a Dune dashboard compiled by NFT researcher SeaLaunch, the number of unique users in top NFT markets including Blur, OpenSea and LooksRare has steadily decreased over the last seven days and was 7,805 on April 19. The number of unique users across all NFT markets has not been that low since July 31, 2021, when the number of unique users across OpenSea and other markets was recorded at 7,455.

Launching Coindesk, Friday (21/4/2023), sales on the NFT market have also fallen over the past seven days, with 16,149 sales recorded on April 19. The last time the number of sales was that low was on November 9, 2021, when there were 12,910 sales.

It seems that the two top NFT marketplaces, OpenSea and Blur are seeing significant drops in unique users and sales. Blur, the pro-focused NFT marketplace has seen a decline in the number of sales on its platform this week, tallying 5,688 sales, the lowest number of daily sales in the last 90 days. Blur’s number of daily unique users has also fallen, with 1,777 unique users as of April 19, its lowest in 90 days.

As for OpenSea, the number of day traders has fallen sharply over the past week, reaching 10,640 on April 18. According to data, the number of OpenSea day traders has not fallen below 10,000 since July 2021.

However, not all metrics seem pessimistic. Trading volume in ether (ETH) across the NFT market has remained relatively stable over the past 30 days. Compared to the number of daily active users on OpenSea and Blur, Uniswap managed to get daily active users for the last two weeks.