The sales volume of the Coinbase NFT marketplace has been underwhelming since it was launched. So far this year, there has been an increase in NFT trading activity. Since its debut in May 2022, Coinbase‘s NFT marketplace has struggled. This was partly due to a lingering decline in interest in profile picture NFTs from the […]
its NFT marketplace with plans to introduce this new offering to its pre-existing user base. Prior to the launch, the marketplace garnered significant attention, with over two million people signing up for the waiting list.
Despite the initial excitement, the NFT marketplace has yet to live up to expectations, primarily due to the severe economic downturn in the last year and the consequential decline in the cryptocurrency market., since its launch eight months ago, Coinbase NFT marketplace has recorded 50,421 NFT sales transactions. The platform saw its daily NFT sales peak at 1021 on 6 June 2022, but it has seen a drastic decrease since. As of 10 January, the marketplace recorded only 11 NFT sales transactions.
The Ethereum-based NFT marketplace saw its highest daily sales volume of 447 ETH on 8 September 2022. However, as of 10 January, this stood at zero, data from Dune Analytics revealed.So far in 2023, there has been a surge in trading activity in the NFT vertical of the crypto world, data fromFirst, Blue Chip NFTs suffered a decline in value during the 2022 trading year as they closed the year at a Blue Chip index of 9,248 ETH.
Blue Chip NFTs are a subcategory of the NFT market that are perceived to be of high quality and value, such as
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