Top NFT Marketplace Daily Users, Sales Hit New Lows Not Seen Since 2021

Over the past week, non-fungible token (NFT) marketplaces have experienced a decrease in daily users and sales, reaching new lows not seen since July 2021, according to data from the analytics platform Dune.

The number of unique users across top NFT marketplaces, including OpenSea, LooksRare, and Blur, has steadily declined and reached 7,805 on April 19, the lowest number seen since July 31, 2021. Sales across NFT marketplaces have also dipped, with 16,149 sales recorded on April 19. This is the lowest number of sales since November 9, 2021.

Both OpenSea and Blur have experienced significant declines in unique users and sales. For example, Blur, a pro-focused NFT marketplace, counted its lowest daily sales count in 90 days on April 19, with 5,688 sales. The number of unique daily users has also decreased to 1,777, the lowest in 90 days.

there’s been an incredible drop off in unique NFT buyers/sellers in the last week

less than 10k wallets now on all platforms

(h/t @SeaLaunch_ ) pic.twitter.com/pkem6v8rOe

— Giancarlo (@GiancarloChaux) April 20, 2023

As for OpenSea, the number of daily traders has fallen sharply over the past week, reaching 10,640 on April 18. The number of daily traders hasn’t been below 10,000 since July 2021.

.@opensea trader count down to pre summer 2021 NFT Boom numbers 😬

source: https://t.co/U86o9tvpGF pic.twitter.com/vbIREIMZIO

— hildobby (@hildobby_) April 20, 2023

According to SeaLaunch, the decrease in activity is likely due to a macro scenario that has impacted trading patterns. SeaLaunch suggests that high gas prices and tax season liquidity issues are possible causes. Other factors, such as high-volume Blur airdrop farmers reducing trading volumes and meme coin trading frenzies, may have contributed to this.

However, trading volume in ether (ETH) across NFT marketplaces has remained relatively stable over the past 30 days. Uniswap has gained daily active users over the past two weeks compared to OpenSea and Blur.

Representatives from OpenSea and Blur did not comment on the issue.