Bloomberg says that the volume of NFT trading has dropped by a huge 97 percent since its peak in January.
In January 2022, $17.2 billion was traded on the NFT market. This was a shocking high that beat the peak of the NFT craze in August 2021, when $4.2 billion was traded. But the market has slowed down a lot since the beginning of this year, and experts have cut the value of the NFT market by more than $2 trillion. In September, the same amount of money changed hands: $466,9 million.