SVB collapse chilled NFT trading volumes: DappRadar

SVB collapse chilled NFT trading volumes: DappRadar

Only 11,440 NFT traders were active on March 11 which was the lowest figure recorded since November 2021.

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Nonfungible token (NFT) trading volumes took a massive beating following the collapse of Silicon Valley Bank (SVB) last week as traders fled the markets fearing the repercussions of a major United States bank going under.

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According to a March 16 report from data aggregation platform DappRadar, NFT trading volumes were hovering between $68 million to $74 million in the lead-up to SVB’s collapse on March 10, then fell to $36 million on March 12.

The dip was accompanied by a 27.9% drop in daily NFT sales count between March 9 to March 11.

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