The NFT market is experiencing a significant decline in key metrics such as users, volumes, and liquidity velocity, with some collections experiencing pullbacks of 90% or more. The Nansen analytics platform reports that total NFT trading volume has decreased by 49% in the past month to 223,000 ether, or approximately $367 million. While the overall market is struggling, certain collections, such as CryptoPunks, are still performing well and maintaining their position as the preeminent NFT collection.
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NFT Market Plummets as Certain Collections Suffer 90% Pullbacks
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