Although Metaverse technology has started to be used in different areas, there is a decrease in Metaverse trade volume.
According to information obtained from a report published by DappRadar on the subject, the third quarter trade volume of the top 10 Metaverse projects decreased by 80 percent compared to the second quarter.
Interest in Metaverse grows
Metaverse trading volume experiencing massive drops
The Metaverse industry has been experiencing quite a bit of downside lately, especially with regard to the low user activity suggested on certain platforms like Decentraland and Meta . Despite this, DappRadar said that interest in Metaverse still continues and added:
“We see this as a bullish sign because it shows that the excitement for these types of projects is not waning. Instead, the drop in cryptocurrency prices has affected the overall transaction volume of projects rather than a lack of interest.”
According to the report cited by DappRadar, an average of 75 percent decrease in NFT base prices can also cause a decrease in trade volumes.