The ongoing crypto downturn has dampened the NFT industry’s excitement while existing big shots like Yuga Labs continue.
For the first time since last June, the market failed to hit $1 billion in trades. NFT users have now resorted to liquidating their investments, anticipating better market prospects.
A new report by DappRadar, shared with CryptoPotato, suggests that this trend of “trading blocking” will continue till the crypto winter has passed. But during this turmoil, Yuga Labs has managed to retain its hold over the space.
Chayanika has been working as a financial journalist for three years. A graduate in Political Science and Journalism, her interest lies in regulatory implications with a focus on technological evolution in the crypto realm. Contact:Linkedin
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