NFT trading volume drops 63%, AI becomes fastest growing sector

NFT Trading has experienced a sharp decline since December while the DAPPs of artificial intelligence are continuing their increase, becoming the sector which is rapidly growing in web3.

According to Dappradar’s latest industry Report Published on March 6, NFT’s volume of exchanges decreased by 63% over two months, going from $ 1.36 billion in December to 997 million dollars in January, then to $ 498 million in February. February also experienced a 16% drop in sales, reflecting a lower market.

However, some collections remain active. Bold penguin sales increase 25% despite price discounts. Doodles, another collection, made the headlines when he revealed his next Dood cryptocurrency based in Solana.

Meanwhile, the NFT collections fed by AI like Kaito Genesis have gained ground, with its ground price reaching 7.65 Ethereum (Ethn) After a partnership with Azuki.

According to the report, AI DAPPS is now the web3 category which is experiencing the fastest growth. February saw an increase in unique active portfolios, with platforms like lol attracting 5.1 million users (+ 40%) and Evermoon increasing by 988%. The content generated by AI is also prosperous, the fractal visions seeing a 721% adopted peak.

Similar to NFTS, the decentralized financial industry took a hit, shown by the drop in the total locked value. TVL increased from $ 217 billion to $ 168 billion between January and February. A decrease in the liquid lineage activity caused Ethereum TVL drop 27% at 97 billion dollars.

The greatest drop was felt by Solana (GROUND), of which TVL narrowed 33% to $ 15.4 billion, mainly following diminished Raydium activity (RADIUS) and Jupiter (Jupp) exchanges.

Beurinan (He), on the other hand, managed to reach $ 5.05 billion in TVL despite the slowdown. One of the other chains to record growth, Aptos (Fit) saw an increase of 6% TVL to $ 1.83 billion.