On February 9th, DappRadar published a report showing that the Ethereum NFT market cap value fell by 59.60% from $9.3 billion in 2022 to around $3.7 billion in early 2023. DappRadar’s study is based on the marketcap analysis of 81 of the largest NFT collections running on the Ethereum network. According to DappRadar the collapse of Terra Luna in May 2022 was the main cause of the 88% market cap loss of NFT projects running on Ethereum by June 2022. (cryptopotato)
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Ethereum NFT Market Cap Dropped More Than 59% Over The Last Year
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