Dune Analytics data shows that the trading volume of all NFTs has been significantly declining, dropping from a weekly trading volume of $1.8 billion in August 2021 to approximately $73 million currently. The base prices of many projects have also dropped significantly, such as The Merge, which attracted over 30,000 collectors who paid a total of $91.8 million to mint the collection, but the series' base price has dropped from around 25 ETH to the current 1.1 ETH, while the MPL NFT's base price is currently 0.011 ETH (about $19) and the Maya Spirits NFT's current trading base price is 0.015 ETH (about $26).
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Weekly NFT trading volume drops from $1.8 billion in August 2021 to $73 million
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