Home Trading DappRadar Report Shows Decline in NFT Trading Following SVB Crash

DappRadar Report Shows Decline in NFT Trading Following SVB Crash


Three cases of bank collapse have recently occurred and impacted the NFT market. These banks include Signature Bank, Silvergate, and Silicon Valley Bank. This event resulted from strict regulations, an economic downtrend, a liquidity crunch, and failure to meet customers’ withdrawal requests.

Following the recent collapse of the digital bank Silicon Valley Bank (SVB), DappRadar reported a significant drop in trading volumes for non-fungible tokens (NFTs).

SVB Collapse Impact On NFT Trading Volumes

According to the data aggregation platform, DappRadar, the SVB collapse has sent shock waves throughout the cryptocurrency industry as investors begin to reassess their risk exposure to various digital assets. The incident brought the total number of non-fungible tokens traders to its lowest value since November 2021, dropping to around 11,440.

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The report from DappRadar stated that the trading volumes of NFT were fluctuating between $68 million and $74 million before the fallout of Silicon Valley Bank on March…

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