NFT Marketplaces Losing Steam ?

Analytics data shows #NFT giants like OpenSea & Blur are losing steam in daily users and sales!

Let's dive into the numbers and possible reasons behind this trend.🧵

🕰️ Throwback to 2021 Users Levels

The number of daily unique users across top NFT marketplaces, such as Blur, OpenSea, and LooksRare, is hitting some lows.

With 7,805 users on April 19, we're looking at numbers that haven't been this low since July 31, 2021 (7,455 users)!

📉 Sales Going Downhill

It's not just users, sales across NFT marketplaces have also taken a hit in the last seven days.

On April 19, we had 16,149 sales, a number that hasn't been this low since November 9, 2021 (12,910 sales). Ouch!

🔥 OpenSea and Blur Feeling the Burn

Both OpenSea and Blur are experiencing the pain of this decline in unique users and sales.

OpenSea's daily trader count is at its lowest since July 2021, and Blur's daily sales count hit a 90 day low of 5,688. Hang in there, guys!

🕵️‍♂️ The Culprits Behind the Decline

Researchers are suggesting a "macro scenario" might be influencing trading patterns.

Potential culprits include high gas prices, tax season liquidity issues, high-volume Blur airdrop farmers, and the meme coin trading craze of late.

🌟 Stable Trading Volume and Uniswap Wins

Trading volume in ETH across NFT marketplaces has been relatively stable over the last 30 days.

Plus, Uniswap has been gaining daily active users over the past two weeks compared to OpenSea and Blur.

So, let's keep a close eye on the #NFT market as it continues to evolve.

Will this trend persist, or will we see a rebound in the coming weeks?